The arrested have been identified as Joby Joseph of Puthenvelikkara, Rejin Lal of Kodungalloor and Manikandan of Thrissur.
A team including inspector K G Aneesh; SIs Anila and Rameshan; ASI Jayaraj and Sajeesh, and SCPO Sreeni made the arrest.
Kalady police had on Thursday arrested two persons in a similar crime. The accused in this case had allegedly pawned fake gold ornaments at a private gold loan establishment for Rs 3.5 lakh.
Two held for theft: Aluva police arrested two people on Friday for allegedly stealing construction equipment stored in a godown near the Aluva private bus stand.
The arrested are Maju Muhammedali (28) of Punalur and Jomon Palakkuzhappil (35) of Sulthan Bathery. The accused had looted a drilling machine, cutting machine and a battery.
They also stole mobile phones of workers which were kept in the godown. Police said that the accused had committed the thefts on multiple occasions.