Former BM of a private gold lending agency detained
Berhampur: Baidyanathpur police on Wednesday arrested the former branch manager of a private non-bank financial company, the Kamapalli branch of Manappuram Finance Ltd, on charges of financing a loan to the tune of Rs 19 lakh by accepting a forgery. ornaments in gold like mortgage, Wednesday.
The accused has been identified as Smitarupa Padhi, 32, a former branch manager of the private gold lending agency in Silk City, Baidyanathpur IIC Ram Kumar Murmu Police Station said. A case was registered in this regard and the accused was brought before the court, he said.
Previously, police arrested four people, including a woman and her son. Accused N Rajesh Achari, 34, of MG Road in Aska, P Lata, 44, of Somanath Nagar and his son P Siva Kumar, 24, and J Manoj Kumar Achari, 37, of Sriram Nagar were presented in court after their arrest and remanded in custody, ASP Prabhat Routray had informed.
According to the newspaper of the case, the four defendants took out a loan of Rs 19,005,314 from the Kamapali branch of the Manappuram Gold Loan agency by mortgaging fake gold ornaments. Sudhanshu Mishra, the agency’s regional director, lodged a complaint with Baidyanathpur Police Station after being informed of the fraud.
Police opened an investigation into the complaint and learned that Padhi sanctioned the loan by accepting false gold ornaments as a mortgage. Police were told that around 26 loans were sanctioned during the period. The gold ornaments were found to be fake and gold-plated when an audit was carried out on the company’s transactions.
Police intensified their investigation and arrested those who obtained the loans by mortgaging fake gold ornaments. Police said the loans were sanctioned between January 2021 and May 2021. Further investigation is underway to determine the involvement of other agency officials in the fraud. Everyone involved in the fraud will soon be arrested, the IIC added.