The police on Monday (October 27, 2025) arrested the manager and jewellery appraiser of the Erode Cooperative Urban Bank Limited for allegedly misappropriating 8.25 kg of pledged gold jewellery.
The cooperative bank, located in the Municipal Colony area under the Erode Corporation limits, has been functioning for several years, with customers pledging their jewellery to avail loans.
On October 24, officials from the bank’s head office visited the branch to verify loan accounts. During the inspection, they found discrepancies between the pledged gold and the corresponding loan records.
Following this, the officials alerted the Erode Government Hospital Police, who launched an investigation. Preliminary inquiries revealed that Ramesh Kumar, who had been working as a jewellery appraiser at the bank for over 15 years, had misappropriated the pledged jewellery in connivance with bank manager Kathiravan.
Police arrested Ramesh Kumar and, during further questioning, learned that his friend Senthil Kumar had also played a role in the offence. The police later arrested both Kathiravan and Ramesh Kumar, recovered the misappropriated 8.25 kg of gold jewellery, and produced them before the court, which remanded them in judicial custody.
Meanwhile, efforts are on to trace Senthil Kumar, who is still at large.
Published – October 27, 2025 08:37 pm IST
