CHENNAI: A 46-year-old appraiser of public sector bank in city has been arrested by police for allegedly swindling money to the tune of Rs 18 lakh.
The accused has been identified as Subramaniyan, resident of Thiruvottiyur, police said. He had been working as appraiser in the Vijaya Bank, Adambakkam branch, for 10 years.
During an audit in February 2020, it came to light that one Rajammal (45) of SBI Colony in Adambakkam, who is an account holder in the bank, had pawned fake gold jewels. She allegedly coated covering jewels with gold and the jewels were checked by the appraiser of the branch.
Further inquiry revealed that the gold appraiser and the woman had conspired and forged documents for the fake gold, and had swindled Rs 18,00,000 in cash. The report was submitted to the head office, which initiated a probe.
It is said that Subramaniyan took a long leave during the audit and did not come to the bank after that. Since the bank officials were not able to trace the appraiser, branch manager Srinivasan lodged a complaint with the Adambakkam police.
Police registered a case and began to search for him.
Meanwhile, based on a tip-off that the accused had come to his house in Thiruvottiyur, police arrested him on Thursday night. During investigation, he confessed to having swindled the money.
He had told police that it was Rajammal’s idea to loot the cash. Rajammal is on the run, police said. Investigations are underway.
