The gold of 58 customers of the SBI Gayatri Nagar branch in Vijayawada has been recovered.

 Andhra SBI clerk who mortgaged 10 kg of customers gold arrested By arrangement
news Crime Thursday, September 21, 2017 - 16:47

In a major scam busting operation officials from AP Crime Investigation Department (CID) have arrested an SBI clerk for allegedly mortgaging customers' gold in the Manappuram Gold branch in Machavaram of Vijayawada.

According to CID officials, bank authorities found out that nearly 10 kg worth of gold worth Rs 3 crores was missing and complained to CID officials. Krishna Chaitanya, clerk in SBI Gayatri Nagar branch, allegedly mortgaged the gold to take out a loan. 

Following the complaint, CID officers raided the Manappuram Gold loan company and procured evidence related to the scam.

Continuing the probe CID officials also arrested Manappuram Gold Loan staffer, Phani Kumar on Thursday for assisting in the fraudulent transactions. 

Speaking to media persons, CID SP KV Ranga Rao said, "We have procured the evidence for his transactions. The gold of the 58 customers which was mortgaged by the accused has been recovered."

He had also added, "He used to pick the gold in his bag from the lockers during lunch hours so that no one notices. We have examined the CCTV footage of the bank."

Officials are also probing other hands involved in the scam.

He appealed to the customers to not worry about their gold.

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