INVC NEWS
New Delhi : Unveiling the audacious plot of a Mirzapur gang who used fake gold to secure bank loans, and the law enforcement action that stopped them. In a significant operation, the Korba district police apprehended three individuals connected to a notorious Mirzapur gang specializing in peddling counterfeit gold. One of these fraudsters was identified as a local resident of Nonbirra in Korba. Upon their arrest, authorities confiscated several objects crafted from fake gold, signaling the initiation of further investigations.
The Anatomy of the Gang
The gang originates from Mirzapur, a district in the Vindhya region of Uttar Pradesh. Before they could execute their grandiose scheme, officers from the CSEB outpost managed to nab three primary gang members: Munavvar, Abhinav, and an unnamed associate. Seized from their possession were faux gold bangles and other bogus gold items. The police operation took place in a bus stand area where the culprits were scouting for potential new victims. It was revealed that the so-called “gold” items were merely silver objects coated with gold.
The Sting Operation and Methodology
The CSEB outpost’s chief officer disclosed the circumstances leading to the arrest. Amid election fever, vehicles were subjected to routine checks near Nazar TP Nagar. During one such check, a young man on a bike was found carrying a bag filled with gold and silver jewelry. His evasive responses raised suspicions, leading to his detainment for further inquiry. Subsequent investigations led to the capture of his two accomplices based on tips from an informer.
The Bank Loan Scheme Exposed
Upon further examination, the police decided to test the authenticity of the gold items. As suspected, the gold was fake. Digging deeper, they discovered that the trio had been using this counterfeit gold to secure loans from banks. Preliminary evidence suggests that they had already successfully mortgaged the fake gold at HDFC Bank’s Kosabadi branch. Pending verification from the bank, additional actions will be taken against the gang.
The Impending Legal Actions
While the police have managed to arrest the culprits before they could cause further financial damage, they are still in the process of gathering more evidence. If it is confirmed that the gang successfully duped HDFC Bank’s Kosabadi branch, severe legal repercussions are expected.
A Wake-Up Call for Financial Institutions
This incident serves as an alarming wake-up call for banks and other financial institutions. It highlights the need for stringent verification processes, especially when dealing with assets as volatile as gold. The arrest of the Mirzapur gang serves not just as a cautionary tale but also as an impetus for revising existing security protocols in financial systems.
By uncovering this intricate scam, the Korba police have not only prevented significant financial fraud but also exposed vulnerabilities that could be exploited by criminals. As the case proceeds, it is likely to become a benchmark for improving security measures in the banking sector.
