Shocking incident: Bank manager booked for replacing gold with fake jewellery

In a shocking incident, a bank manager has been booked for allegedly replacing 21 karat gold ornaments, pledged as security by a borrower to obtain a gold loan of over Rs 2 lakh, with fake jewellery.

The branch manager of Axis Bank in Pilibhit has been booked on the complaint of one Prashant Rai.

According to police sources, Prashant Rai, in his police complaint, claimed that the purity of the gold ornaments was duly tested by the bank, but then the accused bank manager, Devesh Pant, later labelled the ornaments as 'artificial'.

Police said Rai, in his complaint, stated that "On August 6, 2022, I obtained a loan of Rs 2,35,500 by depositing 43.3 gm of gold ornaments as collateral. The bank charged Rs 2,499 fee for testing the purity of the ornaments, processing and insurance. The purity of the gold was found to be of 21 karat."

"On February 27, this year when I visited the bank to check my savings account, I was abused by the branch manager, saying that the gold ornaments were artificial," Rai added.

He further mentioned in his complaint, "The manager also threatened me of dire consequences if I did not return the gold loan amount immediately."

Station house officer (SHO) of Sungarhi police station said that the accused bank manager has been booked under sections 420 (cheating with dishonesty), 406 (criminal breach of trust), and 506 (criminal intimidation) of the Indian Penal Code (IPC) based on the complaint filed by the victim.

Further investigation in the matter is underway, he added.

(With inputs from IANS)