The Palayamkottai Crime Branch police have arrested the manager of private finance firm for drawing loan to the tune of ₹ 69 lakh by mortgaging fake gold ornaments.
Police said an annual audit conducted in a private finance firm’s branch near Palayamkottai bus-stand here revealed that fake jewels had been mortgaged in the firm for drawing loan.
Since the manager of the firm Thirunavukkarasu, 38, of Thiyagaraja Nagar here and his brother-in-law and sales representative of the firm Senthil Arumugam, 27, had allegedly involved in the crime, the police arrested them on Monday.
The hunt is on to nab three more.
