The manager of Central Cooperative Bank’s Tiruvannamalai town branch and two others were arrested by the Bank Fraud Investigation Wing of the Tiruvannamalai Central Crime Branch for defrauding Central Cooperative Bank (CCB) in Tiruvannamalai town branch, to the tune of ₹2.88 crore, by pledging fake jewellery.
Police said the arrested persons were identified as K. Vijayalakshmi (51), bank manager and resident of Inam Kariyandal village, S. Gopinathan (48), the bank’s gold appraiser and resident of Sanakuppam village near Ambur town, and B. Elumalai (45), an agent and resident of Aradapattu village.
Initial inquiry revealed that during an internal audit, it was found that all the jewellery pledged for 21 loans were fake. It was also found that the 21 loans were sanctioned following appraisal reports from Gopinathan in 2024.
Police said that gold appraiser Gopinathan told investigating officers that bank manager Vijayalakshmi colluded with a few bank staff including himself and local agents including residents from surrounding villages to forge documents to get the loan. They attached valid documents like Aadhar and ration card of 21 residents as supporting documents and pledged fake jewellery to avail the loan.
Based on a complaint by deputy registrar of Cooperatives, S. Vasanthalakshmi, a case was registered. Special teams have also been formed to nab 21 persons, who gave their valid documents for the purpose. A probe is underway.
Published – August 13, 2025 12:29 am IST
