A Bank of Baroda appraiser was taken into custody in Kakinada after allegations that he replaced 1.2 kg of pledged gold with imitation jewellery, police said. The case is being investigated by local authorities.
According to officials, the incident came to light in connection with gold jewellery pledged at the bank. Police have not shared further details on how the alleged swap was carried out.
Superintendent of Police said gold jewellery worth ₹1.45 crore was recovered from Suribabu. Further investigation is under way.
