TEAM HERALD
teamherald@herald-goa.com
MARGAO: Strange it may seem, but true. The Quepem Urban Co-operative Credit Society spent a lot of money on security personnel to protect the gold pledged with its Shiroda branch, little realising that the security was only protecting fake and gold of low impurity.
Sources in the credit society said that as many as three security personnel were deployed to man the Shiroda branch round-the-clock since the branch had sanctioned crores of rupees worth gold loan in the last two years. “The intention behind deploying additional security at the Shiroda branch was to protect the gold pledged with the branch. We had no idea whatsoever that the gold pledged was fake,” remarked a society director.
