COIMBATORE: Saibaba Colony police in the city on Saturday registered a case against a couple on charges of cheating a pawnbroker of Rs 76 lakh by promising to redeem 710 grams of gold pledged with another finance company and re-pledge it with his firm.
The complainant, N Harihara Subramanian, 53 of Vadavalli, runs a jewellery pawnbroking firm on Alagesan Road in Saibaba Colony. He provides financial assistance to people seeking to redeem jewellery pledged with other finance companies, on the assurance that they would re-pledge the ornaments with his firm.
Kesavaraj and his wife Uma Maheswari, residents of Veerakeralam near Vadavalli, approached Subramanian on Sept 30, according to the complaint. They told him that they had pledged 710 grams of gold jewellery with another finance company for Rs 76 lakh and sought financial assistance to redeem it. Trusting their assurance, he transferred Rs 76 lakh to Kesavaraj’s bank account.
You Can Also Check: Gold Rate in Coimbatore | Silver Rate in Coimbatore | Bank Holidays in Coimbatore | Public Holidays in Coimbatore | Coimbatore AQI | Weather in Coimbatore | Petrol Price in Coimbatore | Diesel Price in Coimbatore | CNG Price in Coimbatore | LPG Price in Coimbatore Stay updated with the latest Coimbatore news. The couple promised to pledge the redeemed jewellery with Subramanian’s firm in return for the money. However, the couple failed to redeem the jewellery and pledge it with his firm. They did not return the money. Further investigations are on. Download the TOI App.
Subramanian lodged a complaint with Saibaba Colony police on Saturday.