Kundapura: FIR against jewellery shop for defrauding hundreds in gold scheme

Kundapura: A jewellery shop in the town here has been accused of defrauding hundreds of people through its gold scheme.

The shop had collected gold and money in the form of investments in gold to the tune of 10.5 kilograms and Rs 8 crores respectively from customers.

Later the shop raised loans on these deposited gold and money on which it defaulted making the lenders sent notices to the owners of the gold stating that their gold will be auctioned.

On learning this, depositors questioned the jewellery shop owners who promised to solve the problem but have reportedly failed to do so.

On Monday, March 16, those who were cheated by the shop collectively registered a case against 24 people related to the shop at the Kundapura police station.