Gold fraud case: Second woman, who attempted suicide, dies 

THIRUVANANTHAPURAM: The second woman, who attempted suicide after being upset over losing 70 sovereigns of gold of a private finance firm in Vengannoor, died here Monday. She has been identified as Aishwarya (32) of Chavadinada in Venganoor. Aishwarya and Anju (28), wife of Jaya Bhavan at Nellivila in Venniyoor, were employees of the private finance firm.

The two attempted suicide after mentioning the role of Sindhu Kumari (52) of Panangode, arrested in the case, in their note. Anju died on Saturday while undergoing treatment. Sindhu Kumari was arrested the other day. The Vizhinjam police arrested her from her relative’s house in Malayinkeezhu, on Sunday. She has been remanded.

Fake visiting cards and bill books were recovered from her house when her house was raided. Police said many cases have been registered against her at the Kovalam Station and Malayinkeezhu station. Many complaints are being raised against after her arrest. The police have received more than ten complaints.

Modus operandi of gold fraud

Investigating officers revealed that Sindhu Kumari, who previously operated a gold loan business, befriended the two employees to gain their trust. She allegedly convinced them to hand over 70 sovereigns of gold pledged by customers at their firm, promising to re-pledge it at the state-run Kerala State Financial Enterprises for lower interest rates. This transaction was carried out without the knowledge of the financial firm's owner.

While the employees were unaware that Sindhu Kumari was actually selling the gold, she kept them compliant by paying them small sums disguised as commissions. The fraud unraveled when customers returned to reclaim their ornaments. Though the accused managed to return the gold once, she failed to do so subsequently. In a desperate bid to cover up the shortage, the two employees reportedly borrowed gold and funds to satisfy the customers. The police later discovered that Sindhu Kumari had sold the missing gold to another financial firm in Kovalam.

Before taking the drastic step, the victims sent a final text message to the accused, which read: ‘Live happily. We have no option but suicide. You drove us to this. We are leaving our children behind. There is no other way. Live happily.’ The police added that the women had also sent numerous unanswered voice messages pleading with Sindhu Kumari to return the gold.