Customer dupes finance firm of Rs 30 lakh in Nagpur

Nagpur: A case of fraud under the pretext of a gold loan has surfaced in the Lakadganj police station area, where an accused allegedly duped a finance company of nearly Rs 30 lakh before going absconding.

According to police, the complaint was filed by Ashwini Wankhede, branch manager of Manappuram Gold Loan located in Wardhaman Nagar. The accused, identified as Kapil Kishor Kawale, was a regular customer of the company and had reportedly built a level of trust over time.

Police said the accused approached the branch manager claiming that his gold was mortgaged with a bank where the interest rates were high. He proposed that he would release the gold from the bank and pledge it with the finance company instead, seeking financial assistance for the process.

Trusting his claims, the branch manager arranged and handed over Rs 30 lakh from the company to the accused. However, after receiving the money, he neither deposited the promised gold nor returned the amount. He subsequently switched off his phone and fled.

Following a preliminary inquiry, Lakadganj Police Station registered a case of cheating against the accused. Efforts are currently underway to trace and arrest him.

Police have urged financial institutions to exercise caution while dealing with such transactions to prevent similar frauds.

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