Sensational Revelation In Ghaziabad!

A major gold loan fraud has come to light at the Federal Bank branch in RDC (Rajnagar), under Kavinagar police station area of Ghaziabad, where accused persons allegedly pledged fake gold jewellery as genuine and took loans worth about Rs 1.46 crore from the bank.

According to police, on 10 June 2026, Deepanshu Bansal reached the bank with an associate to take a gold loan. They presented gold jewellery before the bank. In the initial examination, the valuer declared the jewellery to be genuine, after which the gold was accepted as collateral.

The fraud came to light later during random checking. The inspection created alarm in the bank because the entire gold pledged in that case was found to be fake.

After this, the bank management immediately began checking other gold loan accounts. The findings were even more serious. Fake gold had been pledged in a total of 20 loan accounts, and through these accounts loans worth ₹1,46,54,249, approximately Rs 1.46 crore, had been sanctioned.

The source material states that Rs 1 crore 46 lakh was withdrawn from 20 accounts. Several of these accounts had been referred through Rupik Fintech, and the valuation had also been done by the same agency.

On the complaint of the bank, a case has been registered at Kavinagar police station against 18 named accused. The accused named in the case include Deepanshu Bansal, Mayur Bansal, valuer Deepak Dhalla, and Harsh and Anurag Singh from the fintech side, along with several others.

ACP Kavinagar Abhay Rajendra Daga said that a detailed investigation is underway in the entire matter. Police are examining bank records, documents and the full chain of alleged collusion.

According to the ACP, this was not the work of just one or two people, but a major racket that allegedly cheated the bank in an organised manner.

As the investigation moves forward, more sensational disclosures may emerge in the case. The police are now looking into how fake jewellery was accepted as genuine, how the loan files were cleared, and what role the valuer, fintech-linked persons and account holders played in the alleged fraud.