Madurai
Tirunagar police have booked six persons, including manager of a private finance company, on the charge of cheating the company to the tune of ₹14.74 lakh by pledging fake jewellery
Among the accused is Santhanapandi, who was the manager of Muthoot Fincorp branch at Tirunagar since July 2017, and four of his friends.
During an audit, officials from the regional office found that 764.5 grams of fake gold was pledged in the name of five persons and loan to the tune of ₹14.74 lakh given by the manager.
The police said that the manager who had some debts tried to cheat the company by way of pledging imitation jewellery eight times between July 17 and August 28.
The audit revealed that the manager had used four of his friends, including a woman, to hand over the fake jewels, for which he had sanctioned the loan amount. Besides, he had used the identity card of one of the customers, identified as M. Saravanan, to pledge imitation jewellery.
The police said that Saravanan was not aware of the transaction. The Tirunagar police have booked the accused for forgery, criminal breach of trust and cheating. The police have picked up one of the accused Venkatesh Babu.