Mangaluru Police on Monday announced the arrest of four suspects involved in the high-profile Kotekar Co-operative Bank robbery, with stolen cash and gold ornaments worth Rs4 crore successfully recovered.
Police Commissioner Anupam Agarwal praised the efforts of the investigative teams, revealing that a total of 18.3 kilograms of gold, Rs3.8 lakh in cash, along with weapons, a getaway car, and two fake number plates were recovered within a week of the crime.
The daring robbery took place on January 17, when four masked and armed individuals looted the bank in broad daylight. Investigations revealed significant security lapses, including CCTV cameras under maintenance, no armed guard on duty, and the master locker left open, which made the bank an easy target.
The four individuals arrested are:
Murugundi Thevar (36)
Yosuva Rajendran (35)
Kannan Mani (36)
M. Shanmugasundaram (65)
According to Commissioner Agarwal, the gang had been planning the robbery for over six months, first meeting at Taloja Jail in Maharashtra, reportedly with guidance from one Shashi Thevar, who remains absconding.
Murugundi Thevar, believed to be the main executor, conducted a reconnaissance of the bank three times. The gang deliberately chose Friday afternoon near prayer time, assuming minimal foot traffic.
To apprehend the culprits, police formed five teams, with units dispatched to Tamil Nadu and Maharashtra, covering over 3,700 km in three days. Full cooperation from Mumbai and Tamil Nadu police aided the breakthrough.
Four more suspects, including Shashi Thevar, are still at large. A manhunt is underway.
Following the incident, Mangaluru Police plan to introduce a standard operating procedure (SOP) for rural banks, to prevent similar security lapses.
The recovered property, belonging to 1,600 individual depositors, will be returned through legal proceedings. The Commissioner clarified that an additional 10 kg of gold present during the heist was not stolen.
