2 finance firm employees arrested, stolen gold, cash recovered

Two employees of a finance firm, including a woman, have been arrested and gold ornaments estimated at Rs 1.76 crore stolen from the firm were recovered at Kovaipudur in the city, police said today.

During interrogation, former manager of the firm Sunil Kumar and appraiser Seethu have confessed to have taken about 800 kg of gold ornaments, pledged by various customers and Rs 5.7 lakh cash using duplicate keys on the night of November 22, City Police Commissioner, A K Vishwanathan told reporters here.

The ornaments and cash, buried inside the compound of Kumar's house at Chittoor in Palakkad district of Kerala, were also recovered, he said.
 

Kumar was recently removed from the post of manager of the firm Indian Infoline Financial Ltd, for his poor performance in recovering the loan and was given an ultimatum to get back the money within a stipulated time, he said.

The gold's worth was yet to be ascertained while the pledged value of the ornaments was said to be Rs 1.76 crore, Vishwanathan said.