The accused was arrested, so far about 1.2 kilos of gold have been recovered. The file image is for representation only. | Photo credit: Getty Images/iStockphoto
An assistant manager of a nationalized bank has been arrested for allegedly stealing nearly 2.7 kg of gold valuables from bank lockers belonging to customers at the bank’s Girinagar branch in Bengaluru and promised to use the proceeds for online betting and gambling.
The accused, identified as Kiran Kumar, 34, allegedly misused his access to the locker keys and started siphoning off a small amount of the pawned gold over a period of time during the branch manager’s absence.
In 21 packs
The scam came to light on January 2 when customers visited an Indian bank branch to retrieve their pledged gold. Several packets were found to be inconsistencies during locker verification. A close inspection revealed that the gold ornaments were partially missing in 21 packages and completely missing in three packages.
Preliminary investigation revealed that 2,783 grams of gold worth around ₹4 crore was stolen.
During an internal investigation, Kiran Kumar reportedly confessed to the crime. Police said he parked the stolen gold in various shops and used the money for online betting and gambling.
Partially restored
Based on the complaint, a case was registered at the Girinagar police station. The accused was arrested, so far about 1.2 kilos of gold have been recovered. Efforts are on to recover the remaining gold valuables as the financiers are not cooperating and the police will approach the relevant court to get necessary directions in this regard, officials said.
DCP, South Division, Lokesh B. Jagalsar asked bank customers to regularly check their valuables from lockers and deposits to avoid such scams.
Published – 14 Feb 2026 18:10 IST