THANE: Four men, including a jeweller from Ratnagiri , have been arrested for allegedly cheating at least four branches of a financial services firm a two credit cooperative societies of Rs 13.5 lakh by putting 'impure' gold jewellery in pawn.
"They would pawn silver jewellery covered with a thick coat of gold and claim it was pure gold," said D S Swamy, Thane deputy commissioner of police (zone I).
After his arrest, Salvi spilled the beans on his accomplices.Swamy said the accused had cheated Muthoot Finance branches in Kalwa, Naupada, Dadar and Mazgaon and two credit cooperative societies in Ratnagiri.
The Thane police seized several 'impure' jewellery items from Rasbihari Imanna's (34) shop and recovered jewellery to be pawned and Rs 1.5 lakh from his three accomplices-Sushant Salvi (35), Liyakat Shaikh (43), and Aniket Kadam (34).The police busted the racket while probing a cheating case against Salvi who had been accused of pawning a 81gm 'gold' chain to a complainant for Rs 1.7 lakh.
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