Coimbatore: The city crime branch (CCB) arrested the gold appraiser of a private bank on Friday for pledging imitation gold jewellery for 31.82 lakh.
The arrested person was identified as V Jaishankar, 48, a native of Pappireddipatti in Dharmapuri district, who was working for DBS Bank (formerly Lakshmi Vilas Bank) in Coimbatore city. “He had approached 14 customers of the bank in October 2020, seeking their help to pledge more than 1kg gold. He told them that he could not pledge the gold as he was working for the bank. He gave them imitation gold jewellery, which they pledged in the bank. He, being the appraiser, passed the loans and pocketed 31.82 lakh,” a police officer said.
The misappropriation came to light when the bank management conducted an audit. Meanwhile Jaishankar went absconding. Bank manager Rajesh lodged a complaint with the CCB police, who registered a case and arrested Jaishankar from Erumapalayam in Salem district. He was remanded in judicial custody.
“Jaishankar, who studied only till Class VIII, first worked in a two-wheeler workshop. He moved to Coimbatore city in 1992 and worked under a goldsmith for five years. He later opened a gold smithery unit. He also sold fruits and dabbled in stocks. After suffering losses to the tune of 70 lakh, he joined Indian Bank on Lawley Road as a gold appraiser in 2009. He later joined Lakshmi Vilas Bank,” the officer added.
The arrested person was identified as V Jaishankar, 48, a native of Pappireddipatti in Dharmapuri district, who was working for DBS Bank (formerly Lakshmi Vilas Bank) in Coimbatore city. “He had approached 14 customers of the bank in October 2020, seeking their help to pledge more than 1kg gold. He told them that he could not pledge the gold as he was working for the bank. He gave them imitation gold jewellery, which they pledged in the bank. He, being the appraiser, passed the loans and pocketed 31.82 lakh,” a police officer said.
The misappropriation came to light when the bank management conducted an audit. Meanwhile Jaishankar went absconding. Bank manager Rajesh lodged a complaint with the CCB police, who registered a case and arrested Jaishankar from Erumapalayam in Salem district. He was remanded in judicial custody.
“Jaishankar, who studied only till Class VIII, first worked in a two-wheeler workshop. He moved to Coimbatore city in 1992 and worked under a goldsmith for five years. He later opened a gold smithery unit. He also sold fruits and dabbled in stocks. After suffering losses to the tune of 70 lakh, he joined Indian Bank on Lawley Road as a gold appraiser in 2009. He later joined Lakshmi Vilas Bank,” the officer added.
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