The Central Crime Branch police on Tuesday arrested the cashier of a nationalised bank in Perambur who allegedly misappropriated funds.

According to police sources, the bank authorities lodged a complaint against the cashier S.Nageswara Rao (49) of Periyar Nagar that he had swindled cash deposited by students in the school's account. He had also taken the money deposited by a businessman. In both the cases, the accused issued receipts acknowledging the payments though he had not credited cash to the tune of Rs.6.22 lakh in the respective accounts.

Deputy Commissioner of Police (CCB) C. Sridhar formed a special team led by Sub-Inspector S. Saravanan to investigate the case. The team arrested Nageswara Rao who was produced in a city court and remanded to judicial custody, the sources added.

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