Fake gold pledging case: Co-operative Bank manager arrested

Mangalore Today News Network

Kasargod, June 15, 2016: The Branch Manager of the Vidyanagar Branch of Mottathodi Service Co-operative Bank has been arrested in connection with the   case of cheating the bank of several crores of rupees by pledgng fake gold jewellery.

 The arrested manager is Santosh Kumar (44). With his arrest, the total number of arrests in this case has risen to six. The police believe that apart from Santosh, TV Satishan, the bank’s appraiser and UK Harris of Kuntaru Uliyatadka are the prime accused in this case.

Police have found during investigation that Santosh had opened an account in the name of his wife Rekha and had deposited Rs 56 lakhs. There is also information that the police are planning to arrest Rekha too.

The investigating team has even raided the residence of Santosh at Ambattara Kotappara and seized Rs 3.5 lakhs, records pertaining to bank loan and fake jewellery.

Police team is also trying to find if the fake gold ornaments found in Santosh’s residence were the same which were missing from the locker of the bank.

In the case of cheating in Mulleriya Service Co-operative Bank, Harris had reportedly borrowed Rs 1.21 lakhs by pledging fake gold ornaments.