Mumbai District Central Cooperative Bank has alleged that it was cheated of Rs 2.48 lakh through a fraudulent gold loan transaction in which fake gold ornaments were pledged as collateral.

According to the complaint filed by Chunabhatti Branch Manager Manjusha Jadhav, the accused, Ganesh Vilas Shelke, approached the branch on May 29, 2025, seeking a gold loan. The ornaments were examined by the bank’s approved gold valuer, Amit Babulal Vaishnav, who certified two bangles weighing 38.5 grams and valued them at Rs 2.90 lakh.