The Central Crime Branch (CCB) Economic Offences Wing has arrested two persons for allegedly running a fraudulent “0% interest gold loan” scheme in the city.

According to the police,the accused identified as Salaam and Ajith had opened a jewellery shop in Vidyaranyapura and lured customers by offering gold loans at zero percent interest.

Believing the offer,several people pledged their ornaments but received only 50–60 percent of the actual value.They were also told not to redeem their jewellery for at least 11 months.

During that period,the accused allegedly sold the pledged gold to another jewellery shop in HRBR Layout, making a profit of 40–50 per cent.

The accused later shut down the shop and went absconding after misappropriating around 4 kg of gold, police said.

The CCB traced a

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