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In a significant fraud bust, the District Crime Branch of Perambalur arrested Akash Chauhan, 29, an officer in the Gold Loan section of Canara Bank’s Labbaikudikadu branch, on charges of misappropriating Rs1.2 crore.
Chauhan, a native of Udaipur, Rajasthan, allegedly prepared fake gold loan documents and transferred funds to his personal account. The investigation followed a complaint lodged by N. Loga Krishnakumar, 46, Assistant General Manager of Canara Bank’s regional office in Namakkal.
The District Crime Branch is conducting further inquiries to determine the full extent of the financial irregularities and recover the misappropriated funds.
