A real estate office employee and his associate were arrested by Sadashivanagar police for allegedly stealing approximately ₹91 lakh in cash from their workplace on BEL Road on February 20.
The primary suspect, Dhananjay, worked at the office as an accountant‑cum‑cashier and was familiar with the daily cash flow. Police said he conspired with three friends to carry out the theft. So far, authorities have recovered about Rs81 lakh, while the rest is believed to have been spent by the accused. Two more suspects remain at large.
The second person apprehended is Praveen Naik. Police are still searching for Thippesh and Sunil, who are believed to be involved in the incident. All four suspects are reportedly from Shivamogga and Davanagere.
In his complaint, the real estate firm owner said he had stored Rs1.76 crore in cash at the BEL Road office. The accused allegedly entered the premises by breaking a glass panel and took around Rs91 lakh. Naik was arrested in Shivamogga two days after the theft.
The vehicle used during the crime has also been seized by police. Based on Naik’s information, officers then arrested the cashier. When questioned, the accused reportedly said their motive was to get rich quickly.
“We recovered most of the stolen cash from the residence of one suspect’s father in Shivamogga,” police officials stated, as the hunt for the remaining suspects continues.
