In a major breakthrough, the Padubidri police, led by PSI Prasanna, have successfully uncovered a fraudulent scheme worth lakhs of rupees, masterminded by a Kerala native named Rajiv. The intricate plan involved pledging 30 grams of fake golden ornaments in local societies and banks to obtain substantial loans, drawing inspiration from a movie plot to deceive financial institutions.

Accomplices from different regions, including Nitil Bhaskar Shet (35) from Kumta, Sanjay Shet (42), and Kailas Gorada (26) from Belagavi, were apprehended for aiding Rajiv in carrying out the fraudulent activities. All suspects have been presented in court and remanded to 15 days of judicial custody. During the operation, police confiscated machinery valued at Rs 3.5 lakh, which was used to imprint fake 916 Hallmark seals, along with a computer.

Rajiv, in collaboration with Nitil Bhaskar Shet, had initially planned to travel to a Gulf nation with counterfeit golden ornaments, created using 30 grams of gold, while wearing 20 grams of authentic gold upon his return to India. Two other accomplices from Kumta were enlisted to manufacture the fake golden ornaments, which were stamped with a Hallmark seal in Belagavi. However, Rajiv later shifted his focus to defrauding local financial institutions.

The modus operandi involved Rajiv and his wife pledging duplicate golden ornaments to secure loans from financial institutions in Padubidri and Ucchila. Shockingly, the institutions failed to detect the forgery. It was only during the auction process of the pledged gold that one participant noticed the fake nature of the ornaments.

This successful resolution was achieved under the guidance of Udupi SP Arun Kumar, ASP Siddalingappa, Karkala DySP Kalagujji, and Kaup CI Jayashree Mane, with Padubidri PSI Prasanna and his team executing the operation. The police intervention has not only exposed the elaborate fraud but also ensured the perpetrators face legal consequences for their actions.

Read Also: