Branch Manager's Million-Dollar Fraud Uncovered

Jyoti Sharma, a branch manager at Trucap Financial Limited, has been accused of defrauding a gold loan firm of over Rs 1 crore. CCTV footage showed Sharma hiding a gold packet worth Rs 15 lakh. Further audit revealed a Rs 1.7 crore fraud involving fake loans and stolen gold.

A branch manager at a finance company has been accused of defrauding a gold loan firm, resulting in losses exceeding Rs 1 crore. According to authorities, Jyoti Sharma, the branch manager in question, allegedly stole a packet of gold valued at Rs 15 lakh from Trucap Financial Limited's branch.

During investigations, CCTV footage captured Sharma concealing the gold packet in her clothes, leading to her admission of the act, confirmed Inspector D P Shukla. Following this, Sharma, accompanied by two employees, visited her apartment to recover the stolen gold. However, she managed to evade capture.

A subsequent audit revealed further financial misconduct totaling Rs 1.7 crore. Sharma allegedly returned several gold items, originally provided as loan guarantees, to customers for money. Additionally, false loans were reportedly issued in the names of her mother and relatives. Authorities have registered a case and are continuing the probe.

(With inputs from agencies.)