The Bank Fraud Investigation Wing of the Central Crime Branch has arrested two individuals, including a gold jewellery appraiser, for defrauding Canara Bank, Mint branch, of Rs2.38 crore by pledging fake jewellery.
The accused have been identified as:
Saravanan (42) – Chintadripet, the bank’s gold appraiser
Janakiraman (39) – Saidapet
The arrests followed a complaint by the bank’s deputy manager, Eduppulapatti Vijayasankar, who reported irregularities in the jewellery pledged by the suspects. The investigation revealed that the accused had used counterfeit gold ornaments to secure loans, leading to a significant financial loss for the bank.
Police are continuing the probe to determine whether others were involved in the scheme and to trace the full extent of the fraud.
