Tirupati: While the ‘Lucky Bhaskar’ in reel life used bank money to support his family while battling debt and humiliation, the real-life counterpart at Nagalapuram’s Union Bank took a far darker route. Assistant manager Arava Suryatej allegedly misused gold pledged by customers to fuel his online betting addiction.

The shocking gold loan scam at the Union Bank of India’s Nagalapuram branch has placed Suryatej at the centre of a major controversy. Investigations have revealed that his compul-sive gambling led him into severe debt, compelling him to exploit bank assets to cover his losses. Over just 50 days, he reportedly wagered an astounding Rs 2.5 crore on online casino platforms, culminating in a massive financial scandal.

Police sources reveal that Suryatej initially lost his salary to gambling and, in a desperate bid for more money, began exploiting the gold pledged by bank customers. He pawned jewellery from 30 account holders at local pawn shops and private financiers, securing over Rs 1.04 crore. Simultaneously, he manipulated bank records to re-pledge gold from 37 other custom-ers, amassing another Rs 1.31 crore through fraudulent transactions involving benami ac-counts.

Authorities estimate that Suryatej wagered approximately Rs 5 lakh daily on online gambling platforms. His unchecked addiction not only resulted in personal financial ruin but also trig-gered a large-scale fraud that has left depositors anxious about the security of their assets.

The scam surfaced during an internal audit on February 10 whereas it was now learnt that Surtyatej had even attempted to bribe the audit officer. But the officer concerned took the en-tire matter to the notice of senior officials of the bank.

Following a complaint lodged by Tirupati Regional Deputy General Manager Brahmaiah, a case was registered against Suryatej and Branch manager Sekhar Thiruvaraj at the Nagalapu-ram police station. Satyavedu circle inspector Murali is leading the investigation and has tak-en Suryatej into custody for questioning.

In the aftermath of the revelation, concerned customers have been queuing up at the bank, seeking confirmation regarding their pledged gold. Bank officials have displayed a list of the 30 affected account holders on the notice board and assured customers that efforts are under-way to recover the misappropriated jewellery. Meanwhile, 36 other account holders remain uncertain about the fate of their assets.

Authorities have urged affected customers, particularly those among the initial 30 victims, to bring their gold loan receipts for verification as part of the inquiry process. While the investiga-tion is expected to conclude within the next few days, the recovery of the stolen gold may take longer.