Police today arrested an appraiser in connection with a Rs 37.38 lakh bank fraud case here in Krishna district.
S V Sonthosh Kumar, who worked as an appraiser for the local branch of Vijaya Bank, allegedly replaced original gold jewellery pledged with the lender with fake ornaments, police said.
"We registered a case based on a complaint loged by the bank manager. The fraud was reportedly going on for over a year, but came to light recently during routine auditing, said Sub-Inspector Habeeb Pasha.
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