IOB assistant branch manager arrested for ₹3.09-crore gold loan fraud

IOB assistant branch manager arrested for ₹3.09-crore gold loan fraud Published – August 22, 2026 01: 07 am IST – CHENNAI.

Key points

• A bank official entrusted with safeguarding customers' gold allegedly turned it into a ₹3.09 crore fraud.
• A case was registered after a complaint filed on August 13 by the branch manager of the bank.
• In his complaint, he alleged that the accused had fraudulently removed gold jewelry pledged by around 21 customers and replaced it with imitation ornaments.
• The police remarked he employed the funds for online gaming and personal expenses.

In practice, a bank official entrusted with safeguarding customers' gold allegedly turned it into a ₹3.09 crore fraud. The Central Crime Branch has arrested an assistant branch manager of Indian Overseas Bank for allegedly replacing 2, 179 grams of pledged gold jewelry with fake ornaments.

For context, the accused, Potnuru Murali Krishna, 34, a native of Visakhapatnam in Andhra Pradesh and a resident of Purasawalkam, was working as the assistant branch manager at the Indian Overseas Bank branch in Ayanavaram.

In practice, a case was registered after a complaint filed on August 13 by the branch manager of the bank.

Notably, an investigation by the Bank Fraud Investigation Wing of the Central Crime Branch made public that Murali Krishna pledged the gold with other private gold financing firms to raise capital.

For context, the police remarked he employed the funds for online gaming and personal expenses. After this, a CCB police team arrested Murali Krishna. He was produced before a court and subsequently remanded in judicial custody.

In short, IOB assistant branch manager arrested for ₹3.09 is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.