Kasargod: A group of people was held for mortgaging fake gold in banks and financial institutions, recently.

The arrested are identified as Zakir Hussein (42) of Palakkad Kongat, I Hassan (36) of Kiyur and Ibrahim Harris (40) of Patla.

The alleged were held by a team of Kasargod police led by Dy SP T Ranjith for crediting fake gold, againt which the trio borrowed several lakhs of rupees.

The gold mortgaged in a private finance company in Cherkala was sold to a Trissur resident however later it was comprehended that the gold was forged.

A complaint registered at Kasargod led to the investigation of the case through which it was revealed that there were similar other cases of fraud being committee by the trio.

According to the sources the group has cheated in Koyikkode, Kannur, Trissur, Palakkad, Vaynad, Malappuram and other places. They have mortgaged fake gold in several places in the state and cheated people of several crores of rupees.

Police obtained information of the suspects and they were arrested.