Bank Fraud Unveiled: Deputy Manager's Golden Gamble

A senior official at a bank has been arrested on charges of misappropriating customers’ gold ornaments, valued at over Rs 3.5 crore. The deputy manager is accused of unauthorizedly mortgaging 2,780 grams of the precious metal.

The alleged financial misconduct was brought to light following a complaint by the bank's chief manager to the Girinagar police station on February 5. According to authorities, the accused had reportedly removed the gold from bank lockers and pledged it with a finance company, diverting the proceeds towards online betting.

Deputy Commissioner of Police (South), Lokesh B Jagalasar, confirmed the arrest and noted that efforts are ongoing to reclaim the misused assets. Approximately 700 grams of gold have been recovered, but cooperation with financiers has been limited, prompting potential legal actions.