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Man held for misappropriating gold jewellery using fake bills

Press Trust of India  |  Hyderabad 

: A 29-year-old man employed at a city-based firm was arrested for allegedly misappropriating its gold and diamond jewellery, police said Monday.

G Vivek, a sales executive, misappropriated gold and diamond weighing about 4 kg by submitting fake bills as if it was delivered to different shops and showrooms, police said based on a complaint lodged by the firm's owner.

He allegedly mortgaged 1 kg gold with a Finance firm and got other gold ornaments melted and kept the diamonds with him at his house for later disposal, a police release said.

Three kg gold ornaments worth Rs 1 crore were seized from him, police added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 04 2019. 18:50 IST