Kasargod: 227 grams of pledged gold replaced with fake gold at bank

Mangalore Today News Network

Kasargod, December 20, 2025: A case of pledged gold being replaced with fake gold has come to light at the Mangalapady branch of Karnataka Bank.

The issue was discovered when the customer visited the bank to reclaim 227 grams of gold that had been pledged earlier. Upon verification, the pledged gold was found to have been replaced with fake gold.

Fake gold

Based on a complaint filed by Karnataka Bank’s Mangaluru Deputy Regional Head Sreesha, Manjeshwar police have registered a case and begun an investigation.

Police said the gold had been pledged between November 26 and December 6 to obtain a loan of Rs 31,50,066. During this period, the original gold ornaments were allegedly replaced with fake gold, resulting in cheating.

As part of the investigation, Manjeshwar police have questioned two bank employees. One of them is currently under police surveillance, officials said.

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