The Economic Offences Wing on Tuesday arrested a 54-year-old man allegedly involved in ₹2.65-crore gold loan fraud case at Primary Agricultural Cooperative Credit Society at Aralvaimozhi.

Police have also launched a search for six others involved in the crime.

According to police, the arrested individual has been identified as Muthu Krishnan of Aralvaimozhi, who was working as a clerk in the cooperative society.

Police added that the Muthu Krishnan, along with another accused X. Sahaya Thilagaraj, from Kottar, a former secretary of the society and five others, was alleged to have pledged imitation jewellery and obtained loans amounting to around ₹2.65 crores between the period of 2017 and 2023.

Police noted that the case has been registered on Monday (June 15), based on a complaint filed by a Deputy Registrar (retired) of cooperative societies.

Further investigations are under way.