Two Arrested in Rs 59.30 Lakh Gold Finance Fraud

Police in Hanamkonda arrested two people over an alleged money fraud.

The police say they made a fake receipt about gold being kept as security.

The receipt claimed that about 640 grams of gold had been pledged.

A gold finance company trusted the receipt and sent Rs 59.30 lakh to a credit union account.

The gold was not physically checked by the company representative.

Police say the money was later used for other purposes.

Officers seized mobile phones and a copy of the alleged forged receipt.

They are investigating whether more people or other companies were involved.