Banker misappropriates funds, arrested

The branch manager of a public sector-sponsored bank has been arrested for misappropriation of public deposited funds, police said here on Friday.

The incident came to light when the senior management of the bank inspected the branch and detected the fraud in which 14 fake bank accounts were created by the branch manager.

The manager had registered fake documents that 14 people received Rs 83 lakh from the bank as loans for the jewels pledged by them.

Initial investigations revealed that jewels were not pledged and the funds have been swindled by the branch manager who has been a habitual online game player, the police said.

Customers fearing loss of their jewels thronged the bank but were reassured by the bank officials that their jewels were safe.

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