A team of Commercial Crime Wing of the police arrested former secretary of Primary Agricultural Cooperative Bank (PACB) at Gandhigram on Thursday.
Nagarajan (45) of K. Pudukottai near Vadamadurai, served as the secretary of the bank in 2012-13.
The police said that he did not remit the money paid by borrowers of jewel loans into the bank account.
However, he had handed over the jewels to all borrowers promptly. He had made a financial loss of Rs.4,97,904 to the bank.
Complaint
Acting on a complaint lodged by Dndigul District Cooperative Societies’ Registrar Maran, the police registered a complaint and arrested him from his residence at K. Pudukottai.
Police said Nagarajan did not remit money paid by borrowers into the bank account. He made a financial loss of Rs.4,97,904 to the bank
