Vijayawada: Krishna district police arrested Ganne Somasekhar, an assistant branch manager of Karnataka Bank in Machilipatnam, for fraudulently misusing pledged gold ornaments. He illegally removed 3,002.8 grams of gold and pledged it with multiple NBFCs and the bank where he worked to obtain personal loans. Police successfully recovered 2,603.2 grams of gold from various NBFCs and Karnataka Bank. Efforts are still underway to recover the remaining gold from other financial institutions.
Further investigation is underway.
