Three people, including a bank manager, have been arrested in connection with the alleged robbery of gold and cash worth over ₹53.26 crore from Canara Bank’s Managuli branch, police said on Friday.
Karnataka bank fraud: The robbery took place at Canara Bank’s Managuli branch in Basavanabagewadi taluk of Vijayapura district on May 25. (Pixabay/Representative)
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The accused have been identified as Vijayakumar Miriyala (41), the bank manager, and his accomplices—Chandrashekhar Nerella (38) and Sunil Narasimhalu Moka (40), police added.
The robbery took place at Canara Bank’s Managuli branch in Basavanabagewadi taluk of Vijayapura district on May 25, where Miriyala had previously served as branch manager.
Vijayapura Superintendent of Police Lakshman Nimbargi said 58.97 kg of gold ornaments worth ₹53.26 crore and ₹5.2 lakh in cash were stolen from the bank locker.
“In this case, senior manager Vijayakumar Miriyala from Canara Bank’s Hubballi branch and his associates Chandrashekhar Narasimhalu have been arrested,” Nimbargi said.
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“In this case, senior manager Vijayakumar Miriyala from Canara Bank’s Hubballi branch and his associates Chandrashekhar Narasimhalu have been arrested,” Nimbargi said.
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According to police, the accused had systematically conspired to rob the bank. They had planned the heist in February this year but waited until Miriyala was transferred from the Managuli branch to avoid suspicion.
Following his transfer to the Ronihal branch in Vijayapura district on May 9, Miriyala handed over the keys to the bank’s safe deposit lockers to his accomplices, police said.
Using duplicate keys, the trio carried out the robbery and even placed "black magic materials" near the bank to mislead investigators into believing outsiders were involved, police added.
Following their arrests, police seized two cars used in the crime, along with 10.5 kg of gold valued at ₹10.75 crore, which was being transported in the vehicles.
Further investigation is underway to recover the remaining stolen gold and cash.
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.
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