Fraudulent Gold Loan Case Uncovered at ICICI Bank in Shimla

Shimla, Feb 16: A case of fraudulent gold loans has emerged at the ICICI Bank branch in New Shimla, where fake gold ornaments were pledged for loans. The police have registered a case under IPC sections 420 and 120(B) based on a complaint by Deputy Branch Manager Vikas.

The accused, Surendra Kalta, allegedly pledged counterfeit gold ornaments, which were initially evaluated by a listed appraiser. However, an internal audit later revealed that the ornaments were either fake or gold-plated. The bank immediately informed the police, and an investigation was launched.

Preliminary inquiries suggest possible collusion between the appraiser and the accused. Police are interrogating both individuals and investigating whether similar frauds have occurred before. Authorities are also probing the source of the counterfeit jewelry and the extent of the scam.