Vizhinjam gold loan scam: Second woman employee succumbs following suicide bid

Thiruvananthapuram: A multi-sovereign gold-pledging scam in Vizhinjam has claimed a second life. The remaining employee of a private gold finance firm, who had reportedly attempted suicide after the fraud unraveled, passed away during treatment on Monday, according to local police.

The deceased has been identified as 34-year-old Aiswarya, a resident of Venganoor. Her colleague, 28-year-old Anju, who also hailed from Venganoor, died earlier on Saturday. Both women had allegedly ingested poison on June 30.

Law enforcement officials have taken a Panangode native, Sindhu, into custody in connection with the tragic incident. Following her detention, authorities have noted a surge in additional financial fraud complaints filed against her.

Investigators revealed that Anju and Aiswarya, employed at different branches of the private finance company, had handed over approximately 70 sovereigns of gold ornaments pledged by clients to Sindhu, who had reportedly enticed them with commissions. Sindhu had convinced the duo that she would re-pledge the jewellery at other financial institutions with lower interest rates, allowing the employees to profit from the transaction.

The deception came to light when customers requested the return of their pledged assets, alerting the firm's management to the operational inconsistencies. When Anju and Aiswarya pressured Sindhu to return the jewellery, she reportedly refused, stating that the gold had already been liquidated.

Overwhelmed by intense psychological distress and unable to return the assets to the rightful owners, the employees initially borrowed money to replace a portion of the missing jewellery. However, as more clients demanded their gold back, the situation escalated beyond their control.

On June 30, the two women consumed poison mixed into juice, leaving behind a suicide note. Acting on the note and initial findings, the Vizhinjam police registered a case and apprehended Sindhu on Sunday.

With multiple victims now coming forward alleging that Sindhu defrauded them of cash and gold, police state that separate cases of cheating will be registered against her. Authorities are currently investigating whether other individuals, including local private moneylenders, are connected to the network.

PTI

If you or someone you know is experiencing emotional distress or having thoughts of suicide, seek support from a trusted person or a mental health professional. In Kerala, the DISHA helpline is available on 1056 (toll-free) and 0471-2552056.