A couple was arrested for allegedly cheating a finance company by taking a loan of over Rs one crore in exchange of fake gold, police said.
The accused identified as Satyanarayan Gupta and Vishakha are money lenders and take loan from the finance company on low interest rate in exchange of gold, which they collect from their clients. The couple then disburse the loan to their clients on high interest rates, police said.
"The finance company checks the purity of gold but some time back, a detailed inspection of the gold revealed that the gold given by the couple was not pure following which the company lodged the FIR," the police said, adding, that the couple was arrested on April 17.
" The gold given to the finance company by the couple, belongs to their clients and it is suspected that the couple in connivance with their clients gave fake gold to take loan," the police said, adding, that the accused are in police custody and will be produced in a local court on April 24.
