Five held for cheating bank of Rs 44 lakh in Kolhapur

KOLHAPUR: The police have arrested five people from Gujarat and Karnataka for allegedly depositing fake gold in ICICI bank’s Laxmipuri branch as security to borrow

KOLHAPUR: The police have arrested five people from Gujarat and Karnataka for allegedly depositing fake gold in ICICI bank’s Laxmipuri branch as security to borrow a loan of Rs 44 lakh. Kolhapur residents Mahesh Kale, Reshma Kale and Pandurang Sable had deposited the fake gold for the arrested accused, Taurif Khan, Shrikant Variya, Bharatkumar Dhakan, Mudassar Shaikh and Clamet Parera, said the police, adding, Mahesh, Reshma and Pandurang were arrested earlier. According to the police, the accused were hesitant to repay the borrowed amount following which the bank began the process to revalue the deposited gold ornaments and realised that they were fake. The bank then lodged a police complaint.

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