G Swaminathan was arrested on a complaint from District Registrar and after investigation by Thanjavur Commercial Crime Investigation Wing police team led by Inspector Senthilkumaran, they said.
During a routine audit in January 2015, officials found Rs 3,93,000 short in the society funds following which the complaint was lodged.
The accused was produced before Judicial Magistrate Sellapandi who remanded him to judicial custody.
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