Thiruvananthapuram: Police Dam Neyyar here on Wednesday arrested two men suspected of deceiving several private financial companies by beating fake gold ornaments.
The police identified the defendant as Binu, 42 and Vinod 44, from Kottoor.
The police said the two men were arrested based on complaints submitted by private financial companies in Kuttichal where they tried to pawn gold-plated steel bracelets.
Incidentally, the defendant allegedly issued the same fraud at the same financial company a year ago.
Thus, the staff grew suspicious and told the police.
The police said that the defendant mode was pawning fake gold ornaments and then refrained from paying loans.
They allegedly deceived several financial companies in the Kottoor, Kariyode and Kuttichal area for the past year.
They mostly target small financial companies that do not have facilities to carry out sophisticated tests to check the purity of ornaments.
Inspector S Bijoy said two more men were involved in the gang and their arrest would be made soon.