Bengaluru Bank Employee Arrested for Stealing ₹4 Crore Gold from Lockers

A bank employee in Bengaluru has been arrested for allegedly stealing nearly 2.7 kilograms of gold ornaments from customer lockers and pawning them to finance online betting and gambling activities. The case surfaced after customers reported discrepancies in their pledged jewellery at a nationalised bank branch.

The accused, identified as 34-year-old Kiran Kumar, worked as an assistant manager at the branch and allegedly misused his access to locker keys. Investigators say he removed small quantities of gold over time, particularly when senior officials were absent, in an attempt to avoid detection.

Theft Discovered During Locker Verification

The irregularities came to light on January 2 when customers visited the branch to retrieve pledged jewellery. During routine locker verification, bank officials noticed discrepancies and initiated a detailed inspection.

The inspection revealed that ornaments were partially missing from 21 packets and completely missing from three packets. Preliminary estimates suggest that approximately 2,783 grams of gold — valued at nearly ₹4 crore — had been stolen.

Police Investigation and Arrest

Following the discovery, a formal complaint was filed with local police, triggering an investigation. Authorities detained Kumar, who allegedly confessed during initial questioning.

Police sources indicated that the accused pawned the stolen ornaments at multiple outlets and used the proceeds to fund online betting and gambling.

Recovery Efforts Underway

So far, authorities have recovered nearly 1.2 kilograms of the stolen gold. Efforts are ongoing to trace and recover the remaining valuables. Investigators are also examining transactions and working to identify financiers and buyers who may have handled the pledged ornaments.

Officials indicated that legal measures may be sought if individuals in possession of the stolen gold fail to cooperate with the investigation.

Advisory for Locker Customers

In light of the incident, authorities have urged customers to periodically verify the contents of their lockers and maintain proper documentation of valuables. Financial institutions are also expected to review security protocols and strengthen internal monitoring systems to prevent similar breaches.

Growing Concerns Over Financial Fraud

The case highlights the risks associated with misuse of internal access in financial institutions. Experts note that strong oversight, dual-control procedures, and digital audit trails are critical to ensuring the security of customer assets.

As the investigation continues, officials aim to recover the remaining gold and determine whether additional safeguards are required to prevent such incidents in the future.