TIRUVARUR: Five employees of Kumbakonam Central Cooperative Bank here have been arrested by the Economic Offences Wing personnel on charges of misappropriation of funds belonging to account holders.
According to sources, 18 persons, including the then Bank Manager Sasikumar, have misappropriated funds to the tune of ₹3.34 crore while effecting transfer of funds from one account to another through electronic clearing system in the year 2013. Following complaints from account holders, Mareeswaran, Joint Registrar of the bank, lodged a complaint with the police.
After investigation, Sasikumar, Arul Murugan, and three others were arrested and remanded in judicial custody on Saturday. The EOW personnel have launched a hunt for the other 13 accused persons.
