COIMBATORE: Police from the Commercial Crime Investigation Wing (Coimbatore) arrested three former officials of a cooperative credit society in Kongal Nagar, Udumalpet, Tirupur on Monday.
The accused - G Gunasekaram (47), former secretary of the society; R Vijaykumar, (39), a clerk and M Vijayakumar (38) a gold appraiser had embezzled Rs 2.42 crore between 2009 and 2014. The trio allegedly pledged jewellery pawned by credit society members to other money lenders and pocketed the proceeds. The trio was remanded in custody.