Former Bank manager among 2 arrested for Bank fraud property Worth Rs.2.12 Crore along with Rs.23 lakhs cash recovered

Former Bank manager among 2 arrested for Bank fraud property Worth Rs.2.12 Crore along with Rs.23 lakhs cash recovered
   

Former Bank manager among 2 arrested for Bank fraud property Worth Rs.2.12 Crore along with Rs.23 lakhs cash recovered

The Sathanur police of Ramanagara district arrested two persons,including a former bank manager,for allegedly replacing 9.5kg of pledged gold with fake gold jewellery,and selling the original.Police recovered gold worth Rs 2.12 crore from the accused.

The accused has been identified as Anant Nag K, a resident of Peenya and former bank manager, and Rajneesh S Jain (42),of Gandhi Nagar in Mandya,who received the gold from him.

Senior officer told media persons,The Sathanur police on Tuesday arrested a 32-year-old former manager of Canara bank of Honniganahalli branch for stealing and replacing 9.5 kgs of gold valuables with fake articles and selling the booty to a mandya based jeweller to make money in the last three years .

The fraud came to light in July this year when the Assistant General manager of the bank auctioned some of the pawned gold valuables as part of a recovery drive and came to know that they were fake .

Suspecting the role of Rajanna HS,valuer appointed by the bank,Mr.Rao filed a complaint with the police on July 16.

Based on the complaint,a special team was formed by Superintendent of Police,Girish S and his team swung into action.

The team picked up Rajanna for questioning and after a detailed probe the police gave him a clean chit and summoned the manager,Ananthnag, 32, for questioning.

A detailed questioning by the police team in their own style not only led him to confess to the crime but also led the police to arrest his partner -in-crime,Rajnish Jain a 42-year-old jeweller from Mandya, who was buying the gold from Ananth Nag.

Based on his information the police seized 4.7 kgs of gold valuables (out of total 9.5kgs gold valuables he had stolen) worth Rs 2.12 crore along with cash Rs 23 lakh from him.

The police also seized 9.5 kgs worth of fake gold valuables which he had replaced with the genuine gold valuables and two cars used by the accused.

The accused had constructed a palatial house in Peenya out of the money he got from selling the pawned gold .

The accused had targeted the gold valuables of 352 customers who defaulted the repayment of gold loan and replaced 9.5 kgs of artificial gold valuables to take away the genuine gold and sell it to Rajnish Jain.

Finally DG-IGP,Praveen Sood,IGP,Central Range,M Chandrashekhar has appreciated,Superintendent of Police,Girish S,PI,Ravikumar C,and his team for the good piece of investigation,superintendent of Police,Ramanagar district,S Girish,announced a cash reward to Ravi Kumar C,to his team for the exemplary and commendable job done by them he added.