Udupi: Five arrested for bank loan fraud using fake gold ornaments

Mangalore Today News Network

Udupi, Nov 11, 2025: The Shirva police have arrested five individuals for allegedly defrauding a bank by pledging fake gold ornaments as genuine ones to obtain loans.

The arrested have been identified as Puneet Anand Kotyan (Ambalpady Kappettu), Sudeep (Lakshminagar, Tenkanidiyur), Ranjan Kumar (Enagudde, Katapady), Sarvajeeth H (Alangara, Perdur), and Rajesh Dileep Patil (Rahatan, Srinagar, Pune, Maharashtra).

Police seized ₹4.3 lakh in cash, a laser machine and a computer used to create fake hallmark stamps from the accused. Following a rise in cases of loan fraud using imitation gold in Udupi district, police initiated a detailed investigation based on public complaints. Under the supervision of the Kapu Circle Inspector, three special teams were formed and successfully traced the accused from Bengaluru, Goa, Mumbai, and Delhi.

During interrogation, the accused confessed to having pledged fake gold ornaments in several banks in Brahmavar, Hiriyadka, and Udupi town to secure loans fraudulently. Four cases have already been registered at the Shirva Police Station based on a complaint by the Manager of Karnataka Bank, Kattingeri Branch.

All the accused were produced before the court and remanded to judicial custody.

The operation was carried out under the guidance of Dr. Harsha Priyavanda, Assistant Superintendent of Police, Karkala Sub-Division, and Ajmath Ali, Kapu Circle Inspector. It was led by PSI Manjunath Marabath and PSI Lohith Kumar C.S. of Shirva, PSI Anil Kumar T. Nayak of Padubidri, ASI Sridhar K.J., and police personnel Kishore, Manjunath, Arun, Siddaraya, Nagaraj, and CHC Nagaraj of Padubidri Station.