Gangtok, Sept. 30 -- Former SBS General Manager has been arrested by the Sikkim Vigilance Police in connection with an investigation into allegations of disproportionate assets, corruption and misappropriation of State Bank of Sikkim funds.

According to a release issued by the Vigilance Police, the former bank official was arrested on September 28. Searches were subsequently conducted at several residential premises in and around Gangtok and Siliguri.

The agency said the locations were identified through intelligence inputs and discreet enquiries. Investigators suspect that some of the properties were acquired using money allegedly misappropriated during the official's tenure at the State Bank of Sikkim.

The identity of the arrested of...