Kozhikode: The bank manager, who allegedly fled with 25 kg of pawned gold from the Vadakara branch of the Bank of Maharashtra, was nabbed by the police in Telangana. The Vadakara police officials will soon reach Telangana to bring him back to Kerala.
Madhu Jayakumar, a native of Thirucirappalli in Tamil Nadu, allegedly absconded with 25 kg of gold after replacing the gold with fake substitutes. This resulted in a Rs 17-crore loss to the bank. Jayakumar, who was recently transferred from the Vadakara branch to the Kochi branch, did not report to his new position. The Vadakara police had launched an investigation into the case based on a complaint filed by the current branch manager, Irshad. The investigation is being led by Station Inspector (CI) N Sunil Kumar.
Two days ago Jayakumar had resurfaced online with new allegations against the zonal manager. However, he did not divulge the details about the missing gold, which he is accused of stealing from the bank. In the video, he alleged that he was forced to issue agricultural gold loans to Chatham Kandathil Financiers under the names of unknown individuals due to pressure from zonal manager Arun.