MAHABUBABAD: An assistant manager of a Bank in Mahabubabad has been arrested for allegedly misappropriating gold jewellery pledged by 22 customers, police said on Wednesday.
Mahabubabad Town circle inspector P. Anjali said the accused, Bhukya Rajesh, allegedly misused his position at the bank and removed the gold ornaments belonging to the customers. The jewellery was allegedly taken away last month.
The missing gold has been estimated to be worth around `90 lakh, the circle inspector said.
During the investigation, police found that Rajesh had allegedly pledged the jewellery with a finance company, Anjali said. Police have initiated steps to recover the pledged gold.
She said the recovered jewellery would be handed over to the bank authorities as per procedure after its seizure. Further details would be disclosed after completion of the investigation, she added.
Police are continuing their probe into the alleged misuse of the bank official’s position and the disposal of the pledged jewellery.
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