The authorities of a private bank lodged a complaint with the deputy superintendent of police in Tiruvarur here on Saturday against six employees alleging that they indulged in fund misappropriation to the tune of Rs 2.43 crore by pledging imitation jewellery.
According to police, P Govindaraj, the branch manager of Tamil Nadu Mercantile Bank functioning in Asesam village, Mannargudi taluk, in the district lodged a complaint against six staff members including gold appraiser J K Arumugam, Ramesh, Pugazhmangai, Suseela, 48, Ravichandran, 42 and Saravanan, 44. Govindaraj claimed that J K Arumugam had misappropriated the money by pledging imitation gold jewellery with the help of the other five. He had prepared fake documents and got jewel loans sanctioned using more than 70 fake names.
The fraudulent activity had come to light during the audit conducted by the bank officials from the regional office in Trichy recently