Five people arrested for gold loan fraud in Delhi

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New Delhi, Mar 18 (PTI) Five people, including two employees of a non-banking financial company, have been arrested here for allegedly duping the firm by fraudulently providing loans in exchange of fake gold, police said on Thursday.

The accused have been identified as Sanjay Prajapati (36) of Budh Vihar, Nishant Bhole (29) of Ghaziabad, Jitender Verma (42) of Tri Nagar, Sandeep Kumar (46) of Sultanpuri, and Mukesh Kumar of Burari, they said.

According to the police, information regarding the alleged gold loan fraud was received from the Nirman Vihar-based company on Tuesday.

A partner at the firm, Anand Pathak, alleged that Prajapati, who was a manager at the organisation, and Bhole, a gold appraiser, had approved two loans against gold jewellery but the ornaments kept as security were found to be fake, a police official said.

Prajapati had stopped coming to the office since March 6, following which the owners grew suspicious and audited the files, bringing the matter to light, the official said 'During investigation, Bhole was interrogated and he accepted his involvement in the crime. Later, raids were conducted and Prajapati was apprehended from Pul Bangash metro station,' Deputy Commissioner of Police (east) Deepak Yadav said.

Police arrested their three more associates and recovered Rs 10.5 lakh, eight fake gold bangles etc, they said.

Interrogation revealed that Mukesh Kumar used to bring fake customers to the firm. Sandeep Kumar and Jitender Verma arranged the fake gold jewellery. Bhole then certified it and forwarded it to Prajapati for sanction of loan, Yadav said.

When the loan was disbursed, Prajapati used to take 22 per cent of the amount as commission, Bhole three per cent, and the others five per cent, the police added. PTI NIT IJT