A 29-year-old bank executive, Sachin Arun Kalan, was arrested for allegedly stealing gold ornaments worth Rs27 lakh that were pledged by customers at a private bank in Ambernath East, Thane district.
The arrest took place on June 6, and Kalan was booked under the Bharatiya Nyaya Sanhita (BNS) for criminal breach of trust and related offences.
According to the police, Kalan was working as a relationship executive handling gold loan accounts. Between early May and May 26, he allegedly misused his position to divert mortgaged gold ornaments belonging to loan customers.
A Shivaji Nagar police official confirmed that Kalan stole the gold while it was under bank custody and entrusted to him in his official capacity. The value of the stolen gold is estimated at Rs26.90 lakh.
Police have launched a detailed investigation to determine the extent of the breach and whether additional individuals were involved in the scam.