Kakinada: Police have cracked a gold scam at a Bank of Baroda branch located on the premises of the Government General Hospital (GGH) in Kakinada. Superintendent of Police Bindu Madhav disclosed the details of the case to the media.
Police arrested gold appraiser Narava Suribabu for misappropriating gold jewellery pledged by customers for gold loans. He allegedly tampered with jewellery linked to 44 gold loan accounts and replaced the original ornaments with fake ones.
Police recovered 1,020.53 grams of gold jewellery worth Rs 1.45 crore. According to the police, a total of 1,056.90 grams of gold had been misappropriated, of which 1,020.53 grams was recovered.
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