Hyderabad: A case of alleged fraud has come to light at the Karur Vysya Bank branch in Borabanda after a freelance appraiser reportedly went missing along with pledged gold ornaments.
According to police, Aripaka Satish Kumar, who had been working as a freelance appraiser with the bank, is accused of misappropriating gold belonging to customers. The incident surfaced when a customer, Devender Reddy, noticed that the 35 grams of gold he had pledged at the bank was missing.
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When the discrepancy was brought to the bank’s attention, staff members attempted to contact Satish Kumar for clarification. However, his mobile phone was found to be switched off, raising further suspicion.
Following the complaint lodged by branch manager Mohammad Asmatullah, the Borabanda Police registered a case and initiated an investigation into the matter. Authorities are currently tracing the absconding appraiser and examining bank records to determine the extent of the alleged fraud.
Police sources said further action will be taken once the inquiry confirms how much gold has gone missing and whether other customers were affected.