SBI clerk mortgages 10 kg of customers’ gold

Sleuths of the Crime Investigation Department (CID) on Wednesday conducted a raid on a private gold loan company located at Machavaram and recovered gold ornaments, weighing about 10.2 kg, from the company.

According to sources, Krishna Chaitanya, a clerk in the State Bank of India (SBI), Gayatrinagar Branch, allegedly mortgaged gold ornaments with the private gold loan company, deposited by customers in the bank.

He reportedly borrowed ₹3 crore loan from the private firm.

Bank officials, who noticed the misuse of deposited valuables, lodged a complaint with the police.

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The team led by CID Superintendent of Police L.K.V. Ranga Rao raided the gold loan company and recovered the jewellery.

The police are trying to find out since how long Krishna Chaitanya was misusing public property and whether he was involved in any other frauds.

They took five persons, including the bank staff and the private company staff, into custody.

SBI clerk mortgages 10 kg of customers’ gold

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