Kasaragod: A person who is reportedly the friend of the bank manager who was arrested earlier, was arrested in connection with the fake gold cheating case in Pilikkodu Co-operative bank.

C Subhash (40) from Kodoth Pilikkod is the arrested. The number of arrests in this case has risen to 3 with this arrest. Earlier, bank manager M V Sharath Chandra and appraiser P V Kunhiraman were arrested by the police.

Subhash during interrogation confessed to have purchased the gold from jewellery shop in Kanganhad. It is revealed during the interrogation, he had cheated by pledging fake gold five times in the bank and the bank manager knew about it.

Police sources said that, many people have involved in the bank fraud case. Cheating cases have been reported in several co-operative banks in the district and cheating in four such banks has come to light and total arrests has risen to 9. It is learnt that around Rs 8 lakhs have been borrowed in these banks pledging fake gold.