On December 26, 2011 Pune Mirror reported that four persons including the branch manager and the valuator of a finance company have been arrested in a case of alleged cheating in which fake gold ornaments were deposited to draw a loan of Rs. 20.6 lakh. The incident came to light when regional manager, Shailendra Shankar Savde of India Infoline Finance Limited, Bibvewadi branch, registered a case with the Sahakarnagar police station. Police has now arrested two women – Geeta Girish Ghatge (37) of Katraj and Sangeeta Subhas Bhilade (38) Shukrawar Peth – and two bank employees – Uday Gopal Jamkhindikar (62) and Umesh Sadashiv Ambekar (26) – under sections 420 (cheating), 465 (forgery), 468 (forgery for purpose of cheating) 467 (forgery of valuable security, will, etc) and 34 (acts done by several persons in furtherance of common intention) of the Indian Penal Code (IPC).

The original article can be found at Pune Mirror.