IOB assistant branch manager arrested in ₹3.09 crore gold loan fraud

The Central Crime Branch has arrested Potnuru Murali Krishna, 34, an assistant branch manager at the Indian Overseas Bank branch in Ayanavaram, for allegedly replacing 2,179 grams of pledged gold jewelry with imitation ornaments. Krishna, a native of Visakhapatnam and resident of Purasawalkam, is accused of removing gold jewelry pledged by around 21 customers and substituting it with fake items, resulting in an alleged fraud of ₹3.09 crore. A case was registered after the branch manager filed a complaint on August 13. The investigation is being handled by the Bank Fraud Investigation Wing.