2 men arrested in Thane for cheating firm with fake gold of over Rs 4 lakh

Photo for representational purpose. Pic/ istock

Two men allegedly cheated a gold loan company of over Rs 4 lakh by mortgaging fake jewellery in Maharashtra's Thane district, police said on Wednesday.

The duo mortgaged the jewellery between September and October last year and took a loan of Rs 4,38,500 against it from the Muthoot Fincorp's branch in Badlapur town.

The jewellery was later found to be fake, following which the company's branch manager approached the police, an official from Badlapur police station said.

The Badlapur police on Tuesday registered a case against the accused, identified as Yogesh Jadhav and Sahil, under Indian Penal Code Sections 420 (cheating) and 34 (common intention), the official said, adding that no arrest has been made so far.

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