Belthangady: Former bank employee arrested in Rs 10 lakh fraud case; accomplice still on the run

Belthangady: Former bank employee arrested in Rs 10 lakh fraud case; accomplice still on the run

Mangalore Today News Network

Belthangady, Sep 8, 2025: Dharmasthala police have arrested a key suspect in a financial fraud case linked to the Belalu Primary Agricultural Credit Co-operative Society. The accused, Sadashiva, also known as Sujith, a former employee of the society, had been absconding since the complaint was filed.

Acting on a tip-off, a police team led by Sub-Inspector Samarth R. Ganiger tracked Sadashiva to Padil, Mangaluru, and apprehended him on September 5. He was produced before the Beltangady court on September 6 and subsequently remanded to judicial custody.

Another accused in the case, Prashanth—also a former employee—remains on the run.

According to reports, Sadashiva’s brother, Prakash, a resident of Belalu, had deposited Rs 10 lakh in a fixed deposit at the society for three years and taken a loan of Rs 3.5 lakh against it. On April 28, 2025, Prakash filed a complaint alleging financial misconduct by the society’s CEO and demanded the full refund of his deposit along with interest.

Despite the CEO providing clarifications, Prakash allegedly used abusive language, threatened staff, and repeatedly harassed employees at the society’s office. The complaint noted that Prakash “ignored factual explanations, used vulgar language, and continued to intimidate staff and the CEO with repeated threats.”

In response, the society’s president, Padma Gowda, lodged a formal complaint with the Dharmasthala police, citing threats, verbal abuse, and harassment faced by the staff due to the allegations.