Loan Scam Unveiled: Fake Gold Evaluation Leads to Fraud Arrests

Sixteen people, including two gold appraisers, were arrested for allegedly obtaining loans with fake gold in Prayagraj. An FIR was filed following Canara Bank's complaint, revealing misjudged gold value by Vishnu Verma and Kaushal Kishore Verma. A subsequent audit exposed the fraud, prompting a police investigation.

In Prayagraj, sixteen individuals were detained for allegedly securing loans through fraudulent means, using counterfeit gold as collateral. Among those apprehended were two gold appraisers, who played a pivotal role in the scam.

The issue surfaced after Canara Bank lodged a complaint, revealing discrepancies in gold quality evaluations.

An internal audit later confirmed the fraud, uncovering the scale of the deception. Authorities are now delving deeper into the investigation to bring justice to the affected parties.

(With inputs from agencies.)