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The Bank Fraud Investigation Wing of the Central Crime Branch has arrested two individuals in connection with a Rs2.38 crore fraud involving Canara Bank’s Mint branch. The accused include Saravanan, 42, the bank’s gold jewellery appraiser from Chintadripet, and Janakiraman, 39, from Saidapet.
The duo allegedly defrauded the bank by pledging fake gold jewellery as collateral for loans. The fraud was uncovered following a complaint filed by the deputy manager of Canara Bank, Mint branch, Eduppulapatti Vijayasankar.
Police have taken the accused into custody and are investigating the case further.
