Three people convicted of pledging fake gold in cooperative banks


A local court in Udupi convicted three people in three cases related to obtaining a gold loan from three cooperative banks by pledging fake gold ornaments and in one case of attempted pledging of fake gold in a cooperative bank.

KP Suresh from Someshwara-Kotekar near Mangaluru was convicted in one case, while PV Raju from HBR Layout in Bengaluru and Rajesh from Ramanagaram were convicted in two pledging cases and one case of attempted forgery. gold.

Suresh was charged with pledging four fake gold bracelets and receiving a 41,500 yen loan from Narayana Guru Urban Cooperative Bank, based in Udupi, on July 17, 2010.

The first additional civilian judge and JMFC MN Manjunath sentenced Suresh to two years in prison and a fine of 1,000.

Raju and Rajesh were charged with pledging six fake gold bracelets to obtain a loan of 68,000 from the Udupi branch of the South Canara District Central Cooperative Bank on August 12, 2010. Both were charged with pledging false gold ornaments and taking out a loan of 45,000. from the branch of the Padubidri Cooperative Bank in the village of Nadsalu in Udupi taluk on September 30, 2010. The two men were also accused of attempting to obtain a gold loan by pledging false gold ornaments to the Badagubettu Credit Cooperative Society, based in Udupi.

After being found guilty of defrauding the SCDCC bank, the court sentenced Raju and Rajesh to two years’ imprisonment and a fine of 1,000.


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