MLA seeks constitution of SIT to probe alleged gold fraud by ‘Chinna Tambi’

The MLA representing the Krishnaraja Assembly constituency in Mysuru, T.S. Srivatsa, has urged the State government to constitute a Special Investigation Team (SIT) to probe the alleged pledged-gold fraud by Soundar Raj alias ‘Chinna Tambi’.

Addressing a press conference in Mysuru on Monday, Mr. Srivatsa assured the victims of the alleged fraud that he would raise the issue through a Calling Attention Motion in the Legislative Assembly during the coming session.

An FIR has been registered at the Kuvempu Nagar Police Station in Mysuru against ‘Chinna Tambi’ after several people complained of being cheated by the gold-trading firms run by the accused.

According to the complaint, the accused allegedly lured customers who had pledged gold with various financial institutions by offering them loans at lower-than-market rates and promising to buy back the ornaments at a higher price. A case was registered against him after several customers alleged that the companies he ran failed to pay the agreed sum for the pledged gold, and accused him of melting the ornaments with intent to cheat them.

While the government has already constituted a Competent Authority, headed by the Assistant Commissioner of Mysuru taluk, to confiscate the accused’s properties, Mr. Srivatsa said the process needed to be expedited to restore the victims’ faith that justice would be served.

Referring to a recent incident in which the victims of the alleged fraud vandalised an establishment believed to belong to the accused — pelting stones and damaging property, and leading to an FIR against six to eight persons — Mr. Srivatsa said such attacks would not help the victims secure justice. “Don’t indulge in such activities. We are with you. I will raise the issue in the Session,” he said.

On the accused’s release on bail, the MLA said there was a need to work with lawyers to ensure he was sent back to jail, which would help restore the victims’ confidence that justice would be done.

Responding to allegations that some police personnel were also complicit in the fraud, Mr. Srivatsa said the government had taken no action in this regard so far.

He added that the number of victims in the case likely exceeds 400, with an estimated 600 kg of gold transacted by the accused, and said an SIT probe would help unravel the full extent of the fraud and expose all those involved.