Gold loan firm's branch manager booked for fraud in Noida

Noida (UP), 12 Dec (PTI) A branch manager of a finance company has been booked for allegedly defrauding a gold loan firm of over Rs 1 crore here, police said on Thursday.

According to police, the assistant branch manager of Trucap Financial Limited filed a complaint on Wednesday alleging that the branch manager, Jyoti Sharma, had stolen a packet of gold worth Rs 15 lakh from the branch.

He said that he had informed his seniors about the incident and during interrogation, Sharma admitted her mistake. In a CCTV footage, she was seen hiding the packet in her clothes, Inspector D P Shukla said.

Following this, Sharma, along with two employees of the company, went to her apartment to retrieve the stolen gold but she managed to escape, Shukla said.

While auditing the remaining packets, the bank found that Sharma had committed a fraud of Rs 1.7 crore. The complainant further alleged that Sharma had returned some of the gold items, against which a loan was provided, to the customers, in exchange for money, Shukla added.

The complainant further alleged that she defrauded the company with her mother and other relatives by issuing loans in their names, the officer said.

A case has been registered and further investigation is underway, the officer added. PTI COR HIG