Maharashtra Finance Firm Scammed of Rs 25.96 Lakh with Fake Jewelry

A finance company in Maharashtra's Thane district has accused five individuals of defrauding it of Rs 25.96 lakh by presenting counterfeit jewelry to secure loans, as reported by local authorities.

A police report filed at the Vitthalwadi station indicated that this fraudulent activity occurred in 2025, where the accused obtained loans after mortgaging fake valuables with the firm. The deception came to light when the firm discovered the jewelry was fake during their routine checks. An investigation is currently underway to examine the details of the case.

(With inputs from agencies.)