Owner of private finance company arrested, gold seized

Mysuru, March 4:- Lashkar Police have arrested the owner of a private finance company and recovered gold ornaments worth Rs 22.35 lakh from him. The arrested has been identified as Manjunath, 42, of Gundlupet in Chamarajanagar district.

Manjunath would advertise in newspapers, promising gold loans on lesser interest. Many gullible customers would come to him for a gold loan.

After collecting a considerable amount of gold, Manjunath, one fine day, closed his shop.

One Ningamma, who wanted to buy a car for her son, pledged her 52 gram gold ornaments with Balaji Gold Finance run by Manjunath. After some time, she again went to him with an 11 gram gold chain for an extra loan. On February 22, when she went to the shop to clear the amount, she found the shop was closed. Ningamma immediately approached the Lashkar Police.

The police arrested Manjunath and seized Rs 22.35 lakh worth of gold from him.

The operation was carried under the guidance of DCP Geetha Prasanna, Devaraja ACP Shashidhar. Lashkar Inspector Shashidhar, sub-inspectors Gautham Gowda, Dhanalakshmi and police constables Ligaraju, Lokesh, Bopaiah, Manjunath, Chinnappa, Prateep and Sandip took part in the raid. (MR/KS)


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