Mysuru, March 4: Police in Lashkar arrested the owner of a private finance company and recovered gold ornaments worth Rs 22.35 lakh. The arrest was identified as Manjunath, 42, from Gundlupet in Chamarajanagar district.
Manjunath would advertise in the newspapers, promising gold loans at lower interest. Many gullible clients came to him for a gold loan.
After having amassed a considerable amount of gold, Manjunath, one fine day, closed his shop.
A Ningamma, who wanted to buy a car for her son, pledged her 52 gram gold ornaments with Balaji Gold Finance run by Manjunath. After a while, she again went to see him with an 11 gram gold chain for an additional loan. On February 22, when she went to the store to pay the amount, she found that the store was closed. Ningamma immediately approached Lashkar police.
Police arrested Manjunath and seized him 22.35 lakh of gold worth Rs.
The operation was carried out under the leadership of DCP Geetha Prasanna, Devaraja ACP Shashidhar. Lashkar Inspector Shashidhar, Deputy Inspectors Gautham Gowda, Dhanalakshmi and Police Officers Ligaraju, Lokesh, Bopaiah, Manjunath, Chinnappa, Prateep and Sandip took part in the raid. (MR / KS)