Former Manager of the Vadakara branch of Bank of Maharashtra, Madha Jayakumar, has publicly alleged that he is a victim of fraud involving the substitution of original gold ornaments with fake ones. In four video clips totaling 23 minutes, Jayakumar claims that he has been cheated by former senior officers. He denies allegations of absconding, stating that he was caring for his ill father. The videos, which he sent to an online channel, have since gone viral.

Jayakumar asserts that he has become a scapegoat for others' wrongdoing and calls on the media and the public to protect him. He had taken leave on August 5 to attend to his father but contracted dengue fever while at home. Despite not being officially relieved from his position at the Vadakara branch, he is under pressure from the zonal office to join the Ernakulam branch.

He also alleges that the zonal manager informed him that the pledged ornaments were fake. Jayakumar claims that the fake gold did not belong to the bank's clients but to a financial group with about 15 branches, which allegedly violated bank rules by pledging fake gold to secure loans. He accuses the zonal manager of exerting pressure to cover up these violations.

Additionally, Jayakumar points out that a loan of approximately Rs 1 crore was given at an interest rate of 8-8.5% for agricultural purposes, which he contends is against bank policy. He notes that the case was investigated only after a month, rather than immediately upon a new manager assuming charge.

In his video message, Jayakumar declares, “I am innocent. The bank and the people of Vadakara know it. I am now running around for a crime I did not commit... I will be back.”