Bengaluru, 14 Feb

A deputy manager of a bank was arrested in the City for allegedly misappropriating and unauthorisedly mortgaging 2,780gms of gold ornaments belonging to multiple customers, worth over Rs 3.5 crore, police said on Saturday.

The alleged fraud came to light after the bank’s chief manager filed a complaint against the accused at the Girinagar police station in the City on 5 February.

Citing the complaint, police said the accused allegedly removed 2,780gms of customers’ gold ornaments from bank lockers without informing higher authorities and pledged them with a finance company.

During the investigation, officials found prima facie evidence suggesting that the accused had spent the proceeds on online betting, police said.

"The accused deputy bank manager has been arrested in this case. We are trying torecover the gold. So far, about 700gms have been recovered," said Lokesh B Jagalasar, Deputy Commissioner of Police (South).

"We are not getting the desired cooperation from the financiers. We will move the court and initiate appropriate legal action against them. Further investigation is underway," he added.

Police also advised customers to verify the safety and status of their ornaments kept in bank lockers.