Bengaluru: In a major breach of trust, a 34-year-old assistant manager of Indian Bank has been arrested for allegedly stealing nearly 2.7 kilograms of gold from customer lockers at the bank’s Girinagar branch.
Police stated that the accused, identified as Kiran Kumar, had authorised access to the locker facility and allegedly removed gold ornaments in small quantities over time to avoid immediate detection.
How the Theft Came to Light
The case surfaced on February 2 when a customer visited the branch to close a gold loan and retrieve pledged jewellery. The customer noticed discrepancies in the returned items, prompting the bank to initiate an internal audit.
The audit reportedly found tampering in 24 locker packets — 21 were partially emptied and three were completely missing their gold contents. The total stolen gold weighed approximately 2,783 grams and was valued at nearly Rs 4 crore.
Gold Used for Online Gambling
During interrogation, the accused allegedly admitted to pledging the stolen gold with finance companies to raise money. The funds were reportedly used to finance his online gambling and betting activities.
Police have so far recovered around 1.2 kilograms of gold, while efforts continue to trace the remaining amount. Authorities may approach the court if necessary to secure the release of pledged assets from gold finance firms.
Security Concerns Raised
The incident has raised serious questions about internal monitoring systems and security checks within banking institutions. Investigators are examining whether procedural lapses enabled the theft to continue unnoticed for a prolonged period.
Customers have been advised to periodically verify the contents of their lockers and immediately report any irregularities.
Ongoing Investigation
Police are continuing their investigation to determine whether others were involved or if additional losses have occurred. Further legal action is expected as the probe progresses.
