Bank Union official accused of Rs 2.35 Crore Gold

Turning: A major cheat of gold loans came to light at the Nagalam branch in the Unirii Bank of India in Trupping District.

Sources said that deputy director Arava Suryatej, who worked at the branch from May 2024 to February 10, 2025, frauduted the bank and the 67 account holders of 5,498 grams of gold evaluated at 2.35 Rs.

The deception has been outdoors during a recent audit. It took place in two phases.

Suryatej understands that it has postponed the gold of 30 account holders at pawn stores and private finance companies around Puttur, providing over 1.04 Crore Rs. He continued to manipulate internal banking processes using proxy names to re-move the gold of 37 other customers of the Nagalapuram branch, gathering additional Rs 1.31 crore.

Following the bank’s audit, the Deputy Director General of Trumeati, Brahmaiah, filed a file against both Suryatej and the manager of the Sekhar Thiruvaraj branch at the Nagalapuram Police Section.

However, the police are still arresting the accused. “We carry out a first facie investigation to gather all the necessary tests before making arrests,” said the Subinspector Nagalapuram P. Sunil Chronicle Deccan.

The incident raised questions about the internal checks and security protocols in the banking sector.

“We are researching the problem in detail and examining all the records to discover the entire magnitude of the deception. Strict measures will be implemented to maintain transparency in our operations and to prevent such incidents,” said an official of the bank.