A deputy manager at a bank in Bengaluru, Karnataka, has been arrested for allegedly misappropriating and illegally mortgaging gold ornaments belonging to several customers. According to police, the total weight of the gold involved is 2,780 grams, valued at more than Rs3.5 crore.
The suspected fraud surfaced after the bank’s chief manager filed a complaint at Girinagar Police Station on February 5, prompting an official investigation.
Based on the complaint, investigators said the accused allegedly removed gold ornaments stored in customer lockers without informing senior bank officials. The gold was then reportedly pledged with a finance company without authorization.
During the investigation, officials found prima facie evidence suggesting that a portion of the money obtained from the pledged gold may have been spent on online betting activities.
Providing an update on the case, Lokesh B Jagalasar, Deputy Commissioner of Police (South), confirmed the arrest of the accused bank official.
“The accused deputy bank manager has been arrested in this case. We are trying to recover the gold. So far, around 700 grams have been recovered,” he said.
Police also stated that they are facing difficulties in retrieving the remaining gold from financiers.
“We are not getting the desired cooperation from the financiers. We will approach the court and take appropriate legal action against them. Further investigation is underway,” Jagalasar added.
Separate Case: Software Engineer Duped in Matrimonial Scam
In another incident from Bengaluru, a 29-year-old software engineer, Navya Shree, was allegedly cheated of over Rs1.5 crore by a man she met on a matrimonial website.
Navya met the suspect in March 2024 through a community matrimony platform. The man introduced himself as Vijay, claiming to be a wealthy businessman.
He allegedly told her that he owned companies, trucks, land, and houses in prime areas of Bengaluru and claimed to possess assets worth hundreds of crores. To convince her, he reportedly showed old court documents and promised to marry her soon.
Police are investigating the case as a suspected online matrimonial fraud.
