A former Indian bank manager allegedly fled with ₹17 crore worth of pawned gold during his tenure.

Police in Kozhikode, India, are searching for a former branch manager of Bank of Maharashtra, Madhu Jayakumar, who allegedly fled with 26 kg of gold worth ₹17 crore, pawned by individuals. The fraud was discovered during the bank's appraisal process after the manager's transfer. It's suspected the fraud took place between June 2021 and July 2024, and the manager may have replaced original gold with fake gold in 42 accounts. Investigators plan to interrogate bank employees and examine CCTV footage.

August 16, 2024
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