How much was the amount in question and were you in charge of the scrap?
In what capacity were you employed?
with the cash generated what di you buy for the company and where was the item/s kept?
Was sale of scrap inside company premises?
What data about you did your manager circulate and what wrong data was he circulating??
Have you resigned?
I suggest do not resign and face the problem boldly.
Whatever evidence you have got put it in front of management-amount collected, how spent for the company, bills ,physical items,repayment details.
No point panicking and resigning.Collate all facts and place them for information of management.Your manager is against you but whole company may not like that.
27th April 2019 From India, Pune