Hyderabad, Aug. 31 -- In a major fraud bust, the Ramagundam police arrested 44 persons, including three employees of the State Bank of India (SBI), on charges of misappropriation and theft of 25.17 kilograms of gold on Sunday, August 31.

The arrest was made based on a complaint by Chennur SBI regional manager, Ritesh Kumar Gupta, who stated that 402 gold loan accounts, jewellery worth Rs 12.61 crore and another Rs 1.10 crore in cash were stolen from the bank.

"Four investigating teams were formed. During the probe, they conducted an audit on the account of cashier Narige Ravinder, and found serious irregularities and huge amounts of deposits in his bank account," said Ramagundam police commissioner Amber Kishore Jah.

During interrogati...