CBI begins probe into 8-year-old gold fraud case

The case was hand over to the CBI following an order by the Madras High Court in June.

The FIR named T Murthy, jewel appraiser of the Pallavaram branch and unknown others for the crime that happened prior to 2011.

“On 11 March, 2011, at Pallavaram branch, the manager of the branch noticed Murthy trying conceal a packet containing jewellery. Head office was informed about the incident. A team of internal auditors were sent to examine the jewellery in the Pallavaram branch. Of the total 3,076 packets, ornaments found in 135 packets were found to be spurious and jewel loan worth Rs 60.56 lakh were sanctioned against those spurious jewels believed to be worth Rs 97 lakh,” the FIR said.

Moorthy, who is suspected of stealing the genuine gold and replacing it with spurious ones, went absconding on the day internal auditors came for inspection and is yet to be traced.

The High Court ordered a detailed investigation into the missing gold and as well as the fire accident in 2011 which destroyed records keptin the branch.