The Central Bureau of Investigation (CBI) has registered a case against a State Bank of India (SBI) employee for allegedly misappropriating jewellery worth ₹8 crore by tampering with pledged ornaments. The accused, B. Sekar, 57, was a cash officer at SBI’s Kethanur Branch in Palladam and reportedly carried out the illegal activity over five years, from 2017 to 2022.
How the Misappropriation Was Uncovered
The investigation began after the branch manager, K. Sudhadevi, filed a complaint. She discovered Sekar’s involvement following media reports on March 12, 2022. The reports highlighted customer complaints that the weight of their pledged jewellery was less than what they had originally deposited.
Upon scrutiny of CCTV footage from January 11, 2022, Sudhadevi found evidence that Sekar had been cutting parts of the pledged jewellery with a blade and taking them home. This prompted her to file a police complaint, leading to the registration of an FIR under charges of cheating and criminal breach of trust.
High Court Orders CBI Investigation
On August 28, 2024, the Madras High Court directed the Tamil Nadu Director General of Police to transfer the case to the CBI. Following the court’s orders, the federal agency registered a fresh complaint against Sekar for misappropriation and cheating involving jewellery worth ₹8 crore.
Details from the Complaint
The branch manager’s complaint emphasized the need for legal action against Sekar and the recovery of the misappropriated jewellery. She provided Sekar’s address as TSB Home, Balaji Nagar, TKT Mill Bus Stop, Palladam Road, Tiruppur.
The complaint further stated that Sekar had been misappropriating jewellery since May 8, 2017. The internal inquiry revealed that he used a cutting blade to tamper with the ornaments pledged by customers.
Fresh FIR Filed
The Anti-Corruption Branch in Chennai filed a new FIR against Sekar on Monday and submitted it to the Chief Judicial Magistrate in Coimbatore. Investigations are ongoing, and the CBI is expected to take further action to recover the misappropriated jewellery and bring Sekar to justice.
