In a new turn to IIFL scam, Commissionerate Police has detained the manager of gold loan provider Manappuram Finance Ltd for his alleged involvement in the scam in the middle of his marriage.
The branch manager has been detained in connection with the robbery of gold and valuables, worth around Rs 20 crore, from a branch of IIFL in Cuttack, a senior police officer said on Friday. He is being questioned by the investigators in connection with the robbery, said Deputy Commissioner of Police Prateek Singh.
The police have now also got the court's permission to take five of the seven arrested in the robbery case on remand for three days, he said. IIFL's gold appraiser Lala Amrit Ray, arrested on Tuesday, is among the five to be questioned in custody, Singh said, adding that it has been ascertained by the investigating team that he was regularly utilising the mortgaged gold of IIFL to take loans from Manappuram Finance.
Cash and gold, valued at over Rs 20 crore, was robbed from IIFL's Nayasarak branch in Cuttack last week. At least seven persons, including two employees of the company, have so far been arrested in connection with the case and police have recovered 1 kg of gold jewellery and Rs 5 lakh in cash from them.
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