Former cashier of a local branch of a private bank has been arrested for allegedly misappropriating bank funds to the tune of Rs 1.30 crore, police said.
Arunkumar, who was a cashier with the Kadapa branch of ICICI between 2008 and 2011, was arrested yesterday here and cash and property worth Rs 1.05 crore was recovered from him, they said.
In December, police had registered a case of misappropriation against Arun Kumar, after an audit report revealed the amount of misappropriation, following which, a complaint was lodged against him, which mentioned that he had pocketed Rs 1.30 crore during his tenure.
According to police, the accused was authorised to deposit money in the ATMs.
Cash worth Rs 58.80 lakh, gold worth Rs 1.25 lakh and original registered document of land sites worth Rs 40 lakh were recovered from him.