Ujjain, MP:
In a swift breakthrough, Ujjain police arrested five individuals, including the mastermind Zeeshan alias Jai Bhavsar, for a dramatic Rs5 crore gold theft at the SBI Mahananda Nagar branch, committed in the early hours of September 2.
Zeeshan, a 26-year-old outsourced employee of the bank, used his insider knowledge to orchestrate the heist. His familiarity with the bank’s operations, locker arrangements, and keys enabled the gang to pull off the theft in just 35 minutes — without triggering any alarms or damaging the lockers.
According to SP Pradeep Sharma, Zeeshan began planning the crime about two weeks in advance. On August 24, he deliberately set fire to the bank’s CCTV system, damaging furniture and forcing operations to shift to the first floor — effectively leaving the gold loan lockers on the ground floor unguarded and unsupervised.
During the branch shift, Zeeshan roped in his associates disguised as labourers, allowing them to survey the layout. On the night of the crime, he and an accomplice, Abdullah, accessed the premises using original keys and looted gold worth Rs5 crore and Rs8 lakh in cash, targeting 19 lockers used for gold loans.
The gang then fled, taking the stolen gold to a hotel near Danigate, where it was divided. Plans were underway to use the stolen cash to purchase a luxury car and flee to Nepal.
The robbery was discovered the next morning when staff arrived and noticed the missing valuables. CCTV footage revealed two individuals exiting the branch with bags and jumping over the wall, confirming insider involvement.
Following the robbery, ten police teams were formed. Within hours, five suspects were arrested, including Zeeshan and four of his associates. Authorities recovered the full loot — both cash and gold — and foiled their escape plan.
The incident exposed shocking security lapses:
No night guard was posted
CCTV cameras were disabled
Locker keys were poorly managed
As a result, SBI suspended the branch manager, service manager, and cashier for gross negligence. A reward of Rs30,000 was announced for the police team that cracked the case.
The heist caused panic among customers, prompting hundreds to rush to the bank. Officials clarified that only gold loan lockers were compromised — customer lockers remained untouched.
Senior police officials, including ADG Umesh Joga, IG Navneet Bhasin, and SP Pradeep Sharma, conducted a high-level review with over 100 bank officials. Banks were instructed to conduct safety audits, improve alarm systems, and ensure night security protocols are followed. They also advised monthly checks of CCTV systems and heightened vigilance.
