Two arrested for pledging fake gold chain at Kolathur pawn shop
- Two individuals arrested for allegedly pledging a counterfeit gold chain at a pawn shop in Kolathur.
- The pawnbroker became suspicious and alerted the police.
- Accused were caught while attempting to collect the loan amount.
Chennai police have arrested two men for allegedly pledging a fake gold chain at a pawn shop in Kolathur. The incident came to light on Saturday when the pawnbroker grew suspicious of the chain's authenticity.
How the fraud was uncovered
The accused, whose identities have not been officially released, walked into the pawn shop on Friday evening. They offered a thick gold chain and requested a loan of Rs 2.5 lakh.
The pawnbroker, a veteran in the business, examined the chain closely. He noticed the colour was off and the weight felt lighter than expected. He used a testing kit to confirm his doubts — the chain was fake.
Instead of confronting the men immediately, the pawnbroker played along. He told them the paperwork would take some time and asked them to return on Saturday to collect the money.
The arrest
On Saturday afternoon, when the duo returned to the shop, police were waiting. Officers from the Kolathur police station arrested them on the spot. A senior police official confirmed that the fake gold chain has been seized.
The accused have been booked under relevant sections of the Indian Penal Code for cheating and criminal breach of trust. They are currently in police custody and being questioned.
Modus operandi under scrutiny
Police suspect the duo may have used similar tactics at other pawn shops in the city. Investigators are now checking records of recent gold loans to see if any other shops were duped.
Pawnbrokers in the area have been asked to remain vigilant. They have been advised to verify the authenticity of gold items before advancing loans.
“The fake chain was well-made,” an investigating officer said. “It could fool an untrained eye. We urge all pawnbrokers to use testing equipment and not rely solely on looks.”
What happens next
The accused are expected to be produced before a magistrate later today. Police are also probing if they have any previous criminal record. Officials have not ruled out the possibility of more arrests.
The case serves as a reminder for pawn shops across Chennai to tighten their verification processes. A single lapse can lead to significant financial loss.
As the investigation unfolds, the police have appealed to other potential victims to come forward and identify the accused.