(Representational Picture)  |  Photo Credit score: PTI
- The surprising incident of fraud got here to mild throughout the financial institution audit
- The accused carried out this fraud between 2018 and 2020
- He defrauded the financial institution to the tune of Rs 4.5 crore
Chennai: In one more surprising incident of fraud reported from Tamil Nadu’s Chennai, a 52-year-old gold appraiser, recognized as KM Meganathan, landed in cops web on fees of pledging faux gold and swindling the financial institution of greater than Rs 4.5 crore.
The person was employed on the Union Financial institution of India, Tiruvalluir and carried out this fraud between 2018 and 2020.
The surprising incident got here to mild when a financial institution audit was carried out not too long ago and the upper authorities had been knowledgeable concerning the swindling.
Accused duped financial institution of Rs 4.5 crore
Initially, it was revealed that the gold appraiser on the financial institution had defrauded the financial institution to the tune of Rs 4.5 crore.
After a radical investigation within the probe, Meganathan, who was employed within the financial institution since 2011, confessed to his crime. He added that he had submitted faux gold within the names of 137 clients in a bid to dupe the financial institution.
Following this, a case was lodged in opposition to him, and motion was ordered in opposition to the accused by Tiruvallur superintendent of police V Varun Kumar.
Accused apprehended from his residence
Mehanathan was apprehended from his home after the order and was produced earlier than a Justice of the Peace courtroom in reference to this case on Tuesday.
As per the courtroom’s course, the accused was subjected to RT-PCR check and was additional remanded within the Ponneri sub-jail. He will probably be additional shifted to Puzhal jail if he assessments destructive for the coronavirus.