States » SouthPosted at: Oct 10 2026 6:44PM


Kakinada: Former Bank Gold Appraiser Arrested in ₹1.45 Crore Gold Fraud Case

Kakinada, Oct 10 (UNI) Kakinada One Town police have arrested a former gold appraiser of Bank of Baroda in connection with the disappearance of mortgaged gold jewellery weighing 1,056.90 grams, valued at approximately ₹1.45 crore, from the bank’s Government General Hospital (GGH) branch.
Briefing the media at the District Police Office here on Saturday, Superintendent of Police Bindu Madhav identified the accused as Narava Suribabu (59), a resident of Cheediga village in Kakinada Rural mandal.
According to the SP, the accused allegedly replaced genuine gold jewellery pledged by customers against gold loans with artificial ornaments while working as the bank’s gold appraiser. The fraud involved 44 gold loan accounts, with jewellery weighing 1,056.90 grams reported missing.
Following a complaint lodged by the manager of the Bank of Baroda GGH branch, One Town Circle Inspector M. Nagadurgarao registered a case and launched an investigation under the directions of SP Bindu Madhav and Additional SP (Administration) Mahanti Kishore Kumar.
The special investigation teams, led by Inspector Nagadurgarao and assisted by Sub-Inspector PVC Swamy Naidu, used information technology to trace the accused.
He was subsequently arrested at his residence in Cheediga village on Saturday morning.
Police recovered 1,020.53 grams of gold jewellery out of the total 1,056.90 grams reported missing.
SP Bindu Madhav congratulated Inspector Nagadurgarao and his team for detecting the case, arresting the accused and recovering a major portion of the missing gold jewellery.
Additional SP Mahanti Kishore Kumar, Special Branch DSP Satyanarayana and Inspector Nagadurgarao were among those present at the press conference.
UNI KNR CDS
Tags: #Kakinada: Former Bank Gold Appraiser Arrested in ₹1.45 Crore Gold Fraud Case
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