Fri Nov 29 19:01:32 UTC 2024: ## Former Bank of Baroda Manager Arrested for Collusion in ₹1.8 Crore Fraud
**Chennai, November 30, 2024** – A former Assistant General Manager (AGM) of Bank of Baroda, B. Radhakrishnan (61), has been arrested for his alleged involvement in a ₹1.8 crore bank fraud. Radhakrishnan, who served at the bank’s Egmore branch, was apprehended in Hyderabad and brought to Chennai.
The arrest follows a complaint filed by Leena Gohain, another AGM and branch head, against Lemooria Foods Pvt. Ltd. and its directors, G. Rajalakshmi and K. Sathish Babu. The company allegedly obtained a ₹2.6 crore loan in May 2018 under the pretense of purchasing machinery for a fruit juice manufacturing plant. However, investigators found no evidence of the purchase, and the company defaulted on approximately ₹1.8 crore of the loan.
Police allege that Radhakrishnan, along with Sathish Babu and three others (already arrested), conspired to defraud the bank. Radhakrishnan is accused of sanctioning the loan as part of this conspiracy, resulting in significant financial losses for the Bank of Baroda. The investigation is ongoing.
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