Kozhikode: The Vadakara first class Judicial magistrate on Wednesday remanded Madhu Jayakumar, the arrested former manager of the Bank of Maharashtra, to six-day police custody. The judge granted the request of the Crime Branch to question the man who allegedly stole 25 kg of pawned gold from the bank.
The police will now take the accused to different states as part of evidence collection and try to recover the gold stolen from the Vadakara branch of the bank.
Jayakumar is accused of stealing 26.24 kg of gold worth Rs 17.2 crore replacing it with fake gold. The crime came out when the newly assigned manager, who took charge after Jayakumar's transfer, found a mismatch in the gold stock and lodged a complaint with the Vadakara police.
On the run, Jayakumar was arrested by the Karnataka Police from Humnabad in Bidar while trying to get a mobile sim without his Aadhaar card. The alert shop owner informed the local police, which led to his arrest.