Mumbai: Accused in fake gold scam seek anticipatory bail

Loans worth Rs 1.78 crore were certified by the evaluators

Four evaluators from a nationalised bank, allegedly involved in a fake gold loan scam, where fake gold was used to obtain loans, have approached the high court seeking anticipatory bail. The evaluators are accused of certifying counterfeit gold as genuine, enabling the fraudulent loans.

Meanwhile, four of the 12 accused scam beneficiaries have already secured anticipatory bail from the session's court. One accused was arrested on Saturday, while the others remain at large.

During the investigation, it was revealed that most of the accused who got loans by pledging fake gold were couples (husband-wife) and siblings, and took loans of Rs 1.78 crore from the bank over 10 months between June 22 and April 2023.

According to police sources, an audit of the gold deposited at a Goregaon bank branch in February revealed the major fraud. The gold was taken for evaluation by two bank-appointed valuers, who discovered that the jewellery kept as collateral was fake.

Upon being informed by the valuers, the branch manager promptly notified the loan holders and the bank's divisional office in Andheri. Following instructions from senior officials, the branch manager filed a formal complaint at the Goregaon police station, leading to an investigation into the scam, said an officer from Goregaon police station.

Under the guidance of DCP Anand Bhoite, API Satish Suroshe began the investigation and sent notices to the accused account holder as well as the valuers. Several of them approached the sessions court seeking anticipatory bail, including the evaluator's four beneficiaries.