Bank Scandal: Deputy Manager Arrested for Gold Ornaments Fraud

A deputy manager at a bank was arrested for fraudulently handling 2,780 grams of customers' gold, valued at over Rs 3.5 crore. The manager allegedly pawned the gold without permission, using proceeds for online betting. An ongoing investigation aims to recover the ornaments.

A deputy bank manager has been apprehended for allegedly misappropriating 2,780 grams of gold ornaments, valued over Rs 3.5 crore, belonging to bank customers. The police have taken action following a complaint by the bank's chief manager, shedding light on the unauthorized activities.

Authorities discovered that the accused removed the gold from bank lockers and pledged it with a finance company for personal gain, including spending on online betting. Investigations are ongoing, with efforts being made to recover the stolen ornaments.

So far, around 700 grams of the gold have been retrieved. The Deputy Commissioner of Police (South), Lokesh B Jagalasar, noted difficulties in cooperation with financiers, indicating potential legal measures. Customers are advised to check the safety of their items stored in bank lockers.

(With inputs from agencies.)