COIMBATORE: A gold appraiser was arrested on Tuesday for pledging fake jewels and duping a nationalised bank of over Rs 41 lakh in Erode.
The accused, Angamuthu, 36 from Kaliannan Street was working as a temporary appraiser in the nationalised bank on Kavundapadi-Erode Road since 2013.
Police said Angamuthu tricked ten persons known to him to help him in pledging his jewels in the bank.
“Claiming to be under financial distress and expressing inability to pledge his own jewels as he was an employee in the bank, Angamuthu took their help to pledge jewels in their account. They were completely unaware of the fraud perpetrated in their connivance,” police said.
Police said Angamuthu certified the jewels to be genuine and received the money obtained through pledged jewels.
Suspicion arose when Angamuthu took a long leave citing health reasons and also stopped coming to work.
It was then the bank officials checked the jewels with another appraiser and found many to be fake.
All the ten persons, who pledged the jewels on behalf of Angamuthu also claimed ignorance of the fraudulence.
Based on a complaint, the Kavundapadi police registered a case and arrested the accused from a hideout on Tuesday.
Police have initiated efforts to retrieve their ill-gotten money and further inquiries are on.