Kasaragod: Police team led by circle inspector P. Abdul Muneer of Kumble police station has arrested three persons in Uppla Majibail for swindling over Rs 47 lakh by pledging fake gold.

The arrested persons are Rajesh (39) from Talapady, Nilesh (30) from Udyavar and Bhagya Lakshmi.

Police are on the lookout for five more accused including Bhagya Lakshmi’s husband.

The police said, between August 2003 and March 2005, eight people had cheated to the tune of Rs 47 lakhs by pledging fake gold.