Daijiworld Media Network - Bengaluru

Bengaluru, Nov 5: The economic offences wing of the Central Crime Branch (CCB) has arrested two men involved in a multi-state gold loan scam, having previously carried out similar fraudulent activities in Dakshina Kannada district and Kerala.

The accused, identified as Salaam and Ajith, had opened a jewellery shop in Vidyaranyapura in Bengaluru, advertising 0% interest on gold loans to attract the public. Believing the advertisements, many customers pledged their gold ornaments and took loans.

“When the victims pledged their ornaments, they were given only 50–60% of the actual value of the pledged gold and were told not to redeem their jewellery for at least 11 months. During this period, the accused illegally sold the pledged gold to another jewell

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