Bengaluru bank manager addicted to gambling steals Rs 4 crore gold from customer lockers

A deputy manager at a bank in Bengaluru has been arrested for allegedly misappropriating customers’ gold ornaments and mortgaging them without authorisation, police said. The gold involved weighed 2,780 grams and is estimated to be worth over Rs 4 crore.

The alleged fraud surfaced after the bank’s chief manager lodged a complaint at the Girinagar police station on February 5. According to investigators, the accused allegedly removed the gold from bank lockers without informing senior officials and pledged it with a finance company.

Preliminary findings indicate that the money obtained from the pledge was reportedly spent on online betting, police added. Further investigation into the case is underway. The theft came to light on Feb 2, when a woman customer, who closed her gold loan and was getting the pledged ornaments released, found several ornaments missing.

According to a report in TOI, the accused is Kiran Kumar E, attached to Indian Bank, Girinagar branch. Based on a complaint filed by the chief manager of the bank, Dileep Kumar, police have booked Kumar under BNS section 316 (criminal breach of trust).

"The accused deputy bank manager has been arrested in this case. We are trying to recover the gold. So far, about 700 grams have been recovered," said Lokesh B Jagalasar, Deputy Commissioner of Police (South).

"We are not getting the desired cooperation from the financiers. We will move the court and initiate appropriate legal action against them. Further investigation is underway," he added.

Police also advised customers to verify the safety and status of their ornaments kept in bank lockers.

(With PTI inputs)