Pramesh Jain
The North Division police of Rajajinagar police have arrested a Kannada film director who cheated the bank by pledging one kilo of gold plated ornaments to avail loan of Rs 42 lakh from a private bank in Rajajinagar on Tuesday.
The accused has been identified as Karamala Balu Ravindranath,and Shivkumar,goldsmith who assisted him in the fraud.
Senior officer told reporters,Bharat,manager of federal bank filed a complaint in Rajajinagar police station stating that a film director have pledged 1.05 kg of gold jewellery in federal Bank and taken 42 lakhs as gold loan.
From past one year, the film director has not paid EMI on gold loan taken.When federal bank auctioning the gold it was found that the pledged gold is partially fake.
Preliminary inspection appraiser couldn’t find as it has 40 percent gold coating over other material.
During auction when pledged gold was cut,it came to light that inside it was other material.
Acting on the complaint Rajajinagar police inspector RP Ashok and his team swung into action and picked up the movie maker as film director for questioning and during questioning the team found suspicious on his statement and took him into custody for further questioning.
During interrogation in the police style the director confessed the crime and revealed that he conspired with his friend Shivakumar a Goldsmith to make fake gold.
And based on his statement the crime team arrested the gold Smith and a detailed Investigation it was revealed that the accused had directed a movie in the year 2016 and incurred huge loss.In order to recover the loss , he hatched a plan to cheat the banks and avail gold loan.
As per the plan, he roped in Shivakumar to design artificial ornaments made out of alloy and coated four layers of gold on them.
He availed gold loan from Federal bank, Rajajinagar branch last year.The bank got the gold tested from its valuer since it was multilayered gold plated ornaments,even he failed to notice and gave his consent.
The cheated came to light as accused defaulted repayment of loan and did not responded to repeated notice and reminders from the bank .
After the due date the bank decided to auction the ornaments to recover the gold and upon checking the valuables turned out to be fake.
Based on the complaint filed by Bharath, bank manager , the police arrested the duo on the charges of cheating and remanded them to judicial custody and investigation is on he added.
Finally Bengaluru Police Commissioner,Kamal Pant has appreciated Addl CP West,Soumendhu Mukherjee,DCP North,Dharmendra Kumar Meena, ACP,Malleswaram sub-division,KS Venkatesh Naidu,PI, RP Ashok and his team as,Jagadeesh,Dayal Kumar,and other staff for the good piece of investigation and nabbing the duo who has cheated a bank and pledged a fake gold and for the commendable job done by the team who acted swiftly and arrested the duo a suitable reward will be given to the team he added.
