Bank Manager Absconds With Gold Worth Over Rs 17 Crore From Kerala Branch Of Bank Of Maharashtra
Bank Manager Absconds With Gold Worth Over Rs 17 Crore From Kerala Branch Of Bank Of Maharashtra
Kozhikode (Kerala): A bank manager allegedly absconded with gold worth more than Rs 17 crore pledged in a Bank of Maharashtra branch in Kerala's Kozhikode replacing the same with fake gold.
The accused, identified as Madha Jayakumar (34), a resident of Mettupalayam Pathi Street in Tamil Nadu, served as the manager of the Bank of Maharashtra's Vadakara branch. Jayakumar allegedly disappeared with over 26 kilograms of gold, which was discovered missing during a re-appraisal process at the branch.
The fraudulent activity involved replacing the genuine gold pledged by customers with counterfeit gold. The irregularity was found by V Irshad, the newly appointed manager, who immediately lodged a complaint with the Vadakara police. In turn, they registered a case based on the complaint.
