Bengaluru bank deputy manager steals ₹3.5-crore gold from lockers 'for online gambling'

The alleged fraud came to light after the bank’s chief manager filed a complaint at Girinagar police station.

Published on: Feb 16, 2026, 13:33:53 IST

Edited by Shivya Kanojia

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A deputy manager of a bank in Bengaluru, Karnataka, was arrested for allegedly misappropriating and unauthorisedly mortgaging gold ornaments belonging to multiple customers, police said. The total weight of the gold involved was 2,780 grams, valued at over ₹3.5 crore.

The total weight of the gold involved was 2,780 grams, valued at over ₹3.5 crore. (AI generated, representational image)

The alleged fraud came to light after the bank’s chief manager filed a complaint at Girinagar police station, Bengaluru, on February 5, triggering a police investigation, news agency PTI reported.

How fraud was carried out

Citing the complaint, police said the accused allegedly removed 2,780 grams of customers' gold ornaments from bank lockers without informing higher authorities and pledged them with a finance company.

Also read| Bengaluru techie duped of ₹1.5 crore by man she met on matrimonial site

During the inquiry, officials discovered prima facie evidence indicating that the proceeds may have been spent on online betting.

“The accused deputy bank manager has been arrested in this case. We are trying to recover the gold. So far, about 700 grams have been recovered,” said Lokesh B Jagalasar, Deputy Commissioner of Police (South).

Also read| Bengaluru landlord asks one month’s rent just to view flat, internet screams 'scam'

“We are not getting the desired cooperation from the financiers. We will move the court and initiate appropriate legal action against them. Further investigation is underway,” he added.

In a separate news, a 29-year-old software engineer from Bengaluru was tricked into losing more than ₹1.5 crore by a man she met on a matrimonial website.

The woman, Navya Shree, met the man in March 2024 through a community matrimony site. The man said his name was Vijay and claimed to be a wealthy businessman who owned companies, trucks, land, and houses in posh areas of Bengaluru.

He also said he had assets worth hundreds of crores. To make his story sound real, he showed her old court papers and promised to marry her soon.

(With inputs from PTI)

ABOUT THE AUTHOR
Shivya Kanojia
Shivya Kanojia is a journalist at Hindustan Times, where she works in the fast-paced digital news ecosystem with a strong sense of editorial judgement and a clear understanding of what makes a story both important and traffic-driven. An alumna of the Indian Institute of Mass Communication (IIMC), Shivya brings a thoughtful balance of news value and audience relevance to her work, ensuring stories resonate beyond the immediate headline. Over the course of her three-year journey in the digital news space, Shivya has worked across a wide range of beats, including politics, civic issues, human-interest features and trending news. This diverse exposure has shaped her ability to approach stories with nuance, adaptability and context, whether she is breaking down complex developments or spotlighting everyday narratives that often go unnoticed. She is particularly drawn to human-interest stories, interviews and explainers that offer depth and clarity, aiming to move past surface-level reporting to explore the people, emotions and circumstances behind the news. Prior to joining Hindustan Times, Shivya worked with Firstpost and Times Now, where she covered a broad spectrum of topics and honed her skills in digital journalism . Outside the newsroom, Shivya enjoys discovering new cafés, drawn to good coffee, cosy spaces and unhurried conversations. Shopping is another pastime she cherishes, not always out of necessity, but often guided by instinct and the simple joy of stumbling upon unexpected finds. Above all, she treasures time spent with loved ones, finding meaning in shared laughter, simple moments and memories that linger long after.Read More

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