Ghaziabad Police have registered a case against 18 people over an alleged ₹1.46 crore fake gold loan fraud at a Federal Bank branch.
How was the alleged fraud detected?
The case concerns Federal Bank’s branch at RDC, Raj Nagar, under the Kavi Nagar police station area. According to the complaint by senior manager and branch head Shazia Bano, fake gold was allegedly pledged as genuine to obtain loans exceeding ₹1.46 crore.
The matter surfaced during a random rechecking of jewellery that had earlier been accepted for gold loans. Police were told that on June 10, 2026, accused Deepanshu Bansal visited the branch with an associate to obtain a gold loan.
Harsh, a representative of business correspondent company Roopik Fintech, and Deepak Dhalla, an authorised valuer associated with the bank-recognised valuation agency Focus Gold, were also present. The valuer examined the jewellery and certified it as genuine, according to the complaint.
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What happened during the rechecking?
Bank officials later conducted another examination of the jewellery under a random checking process. The ornaments were allegedly found to be entirely fake.
After suspecting fraud, bank employees tried to stop the accused and immediately informed police. However, the accused allegedly escaped from the scene. The incident was recorded on CCTV cameras installed at the bank.
The discovery prompted the bank management to audit and closely inspect other previously approved gold loan accounts.
How many accounts came under scrutiny?
The internal examination allegedly uncovered irregularities across 20 accounts. Investigators found that fake gold had allegedly been pledged to secure loans totalling ₹1,46,54,249, or about ₹1.46 crore.
The case names Roopik Fintech officials Harsh and Anurag Singh along with valuer Deepak Dhalla among those accused of alleged collusion. Police are investigating the circumstances in which the jewellery was accepted and the loans were processed.
The scale of the alleged fraud became apparent only after the bank expanded its review beyond the jewellery detected during the random check. The audit of other gold loan accounts subsequently brought the 20 accounts under scrutiny.
Who has been named in the case?
Kavi Nagar police have registered an FIR against 18 named accused under Sections 318(4), 338, 336(3), 340(2) and 61(2) of the Bharatiya Nyaya Sanhita.
Those named include Deepanshu Bansal, Mayur Bansal, Shahzad Khan, Siddharth Pandey, Alivian Hussain, Vikas, Kavita, Wasim Akhtar, Ashmi, Mukul Kumar, Sahil Singh, Ankur Rajput, Dharmveer Ram, Monesh Tyagi and Kaif Noman.
The case also names Harsh of Roopik Fintech, Deepak Dhalla of Focus Gold and Anurag of Roopik Fintech.
Police have begun investigating the alleged role of the accused, the valuation and processing of the pledged jewellery, and the circumstances surrounding the 20 gold loan accounts in which fake ornaments were allegedly used to obtain more than ₹1.46 crore.
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