Couple booked for cheating people on pretext of interest-free gold loans; suspects absconding

The Central Crime Branch, Bengaluru police, has registered a cheating case against a couple for duping hundreds of customers on the pretext of interest-free gold loans, and they are said to be on the run with at least 5 kg of gold valuables.

Based on a complaint by Jabeer P.M., a social activist, who introduced the customers to the accused couple, CCB on Saturday charged the couple for criminal breach of trust and cheating. Efforts are on to track them down.

According to the complaint, the couple identified as Salaam Manakat and his wife Zareena had opened a shop called “Emirates Gold and Pawn Brokers” in M.S. Palya in August last year, offering interest-free gold loans for five to 11 months.

Jabeer went to the shop along with his friend Anees to confirm the terms of the offer. Convinced, he returned to his native place in Mudigere and told his friends and relatives about the scheme. Excited with the offer, many of his friends and relatives availed the loan by pledging their gold from August last year to April this year. All cases put together, it amounts to more than 5 kg of gold, sources said.

The accused sanctioned loans worth 60% of the value of the pledged gold, transferred the money, and even gave receipts and invoices. However, cheating came to light a few days ago when one of the customers cleared the loan, paying the remaining money online, and asked to return the gold. The accused sought two days to get the pledged gold from the locker. After two days, when the customer tried to contact, the mobile phone was switched off and the shop was closed. Inquiring with the neighbours revealed that the couple, along with their salesman were not seen for the past few days.

Following this, other customers questioned Jabeer P.M., who lodged a complaint with the police.