Former Bank Manager Arrested Over Rs 81 Lakh Gold Theft From NRI’s Locker

A 35-year-old former deputy branch manager of IndusInd Bank has been arrested for allegedly stealing gold worth Rs 81.8 lakh from the locker of a 74-year-old Non-Resident Indian (NRI) in Mumbai. The accused has been identified as Ramchand Sahani. Police said the stolen jewellery and gold were recovered in full within four days of his arrest.

The complainant, Pradeep Motiram Bhatia, has been living in Dubai for the past 52 years. He discovered that 610 grams of gold kept in his bank locker was missing after returning to Mumbai following an absence of nearly two years. The missing gold was valued at approximately Rs 81.8 lakh, prompting him to approach the police and report the suspected theft.

Investigators began tracing Sahani's financial activities as part of the probe. Police found that accounts linked to him recorded transactions worth around Rs 9 crore over a two-year period. His financial dealings also showed extensive interactions with gold loan companies, raising suspicion about the source of the gold involved in those transactions.

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Police then examined photographs of gold items that had been pledged with various gold loan firms. Investigators compared the images and descriptions of the pledged items with the details provided by Bhatia about his missing gold. The comparison helped investigators establish a link between the pledged gold and the property allegedly stolen from the NRI's locker.

The investigation ultimately led police to Sahani, who was taken into custody in connection with the alleged theft. Investigators focused on his previous position as a deputy branch manager and his knowledge of banking procedures while examining how the gold was allegedly removed from the locker. The circumstances surrounding access to the locker and the handling of the stolen property remain part of the investigation.

Police said the entire stolen property, consisting of gold valued at Rs 81.8 lakh, was recovered within four days of Sahani's arrest. The case highlights the investigation into the alleged misuse of banking access and the movement of high-value gold through loan companies. Further details about the alleged method used to remove the gold and the charges against the accused are expected as the investigation progresses.

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