Mysore/Mysuru, Feb. 2 -- Jewellery shop owner arrested for melting gold worth Rs. 1.50 crore

With gold prices soaring by the day, incidents of cheating in the name of gold through attractive schemes have risen considerably. Amid this trend, the Police have cautioned the public to remain vigilant against fraudulent schemes.

A Vijayanagar-based gold shop owner has been arrested for allegedly cheating customers by offering gold loans at unusually low interest rates and later absconding. The arrested accused has been identified as T. Yogesh (30), Proprietor of 'Star Gold Company,' located at Trinetra Circle in Vijayanagar 2nd Stage in city.

According to the Police, Yogesh advertised gold loans at very low interest rates, following which cu...