Kozhikode: A former bank manager, who allegedly fled with 25 kg of gold pawned at the Bank of Maharashtra's Vadakara branch, was nabbed in Telangana on Monday. 

Mettupalayam native Madhu Jayakumar was nabbed barely days after Vadakara police registered a case based on the complaint filed by the branch's new manager, Irshad V. 

According to the latest reports, he was apprehended in Telangana in connection with a ruckus case. It has since emerged that additional fraud cases have been filed against him in the state. The investigation team from Vadakara has traveled to Telangana to record Jayakumar's arrest.

Jayakumar has been accused of absconding with 26.24 kg of gold and replacing it with fake gold valued at Rs 17.2 crore.

Madhu, who managed the Vadakara branch for three years, was transferred to the Ernakulam Palarivattom branch on July 6. The fraud was uncovered during an inspection by the new manager at the Vadakara branch. The fraud allegedly occurred across 42 accounts between June 13, 2021, and July 6, 2024. Despite being transferred, Madhu did not report to his new posting at Palarivattom.

On Saturday, a 23-minute video of Jayakumar S appeared on a local online channel in Vadakara. In the video, Jayakumar levels serious allegations against the bank's Zonal Manager, Arun, but does not address the missing gold.

The video, recorded in a dimly lit room with Jayakumar's face visible, begins with him stating, "Greetings to all. I am Madhu Jayakumar. The blame for the gold loan fraud is on me. I left Vadakara on leave because both my father and I were ill. I officially informed the bank about my leave through email. I am not missing; I left Vadakara on July 5. I am being treated like a criminal for a mistake I didn’t commit." Jayakumar alleged that the gold involved was pledged at the bank following instructions from Zonal Manager Arun.

Meanwhile, Kerala Police's Crime Branch unit is investigating the allegations levelled by Jayakumar in the video. A probe was launched against a financial institution named by Jayakumar in the video.