Kannur (Kerala), February 25 A 42-year-old man, who was being sought by the police in a major fraud case in which a homemaker was allegedly cheated of her gold jewelry and cash after being promised a loan without interest, has been arrested, police said here on Wednesday.
P.P. Ismail, a resident of Ussanmukku in Edayakkad, was arrested from Kochi, where he had been hiding, they said.
According to the police, the fraud was carried out under the guise of a shop operating from a building near the Thalassery General Hospital.
The complainant, a woman from Dharmadam, was approached by the accused and his associates with an attractive offer of a one-year loan without interest.
They allegedly assured her that once the loan period ended, she would either get back the same gold she had pledged or new jewelry of the same weight in designs of her choice.
Trusting the offer, the woman handed over 62.3 grams of gold jewelry to secure a loan of Rs 2.5 lakh. She was later asked to pay an additional Rs 1.25 lakh on the promise that the gold would be returned.
However, even after receiving the money, the accused failed to return either the gold or the cash, police said.
The victim then approached the Dharmadam police and filed a complaint.
Several others linked to the case, including shop associates and agents, had been arrested earlier.
Police say the group is involved in frauds worth nearly Rs 3 crore and faces around 35 cases registered at different police stations.
A special team from the Dharmadam police, with support from the Thalassery ASP squad and the Ernakulam Town North police, tracked down and arrested the accused in Kochi.
Further investigation is underway, police added.