Rs. 1.3 crore fraud; Two bank officials arrested in Coimbatore | Dynamics

Coimbatore: In Coimbatore, a bank manager was arrested for fraudulently possessing 3 kg of fake jewelery.

Premkumar was the manager and Usha was the assistant manager at Indian Bank in Cheranmanagar, Coimbatore. Last year, Subramanian, the bank’s regional manager, lodged a complaint with the Coimbatore Central Crime Branch police after it was revealed that fraud had been committed by mortgaging gold – plated brass jewelery.

During the investigation, it was revealed that the bank money was swindled by mortgaging 3 kg of fake jewelery. The value of the fraudulent amount is Rs 1.30 crore. The investigation found that 12 people, including bank manager Premkumar, assistant manager Usha and a jewelery appraiser, were involved.

Also, Reggie has been a broker in mortgaging counterfeit jewelry. Following this, Premkumar and Usha were arrested last night. They were later produced in court and remanded in custody.

Coimbatore: In Coimbatore, a bank manager was arrested for fraudulently possessing 3 kg of fake jewelery. At Indian Bank in Cheranmanagar, Coimbatore, Premkumar is the manager and Usha

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