A staff member of Karnataka Bank has been arrested for allegedly stealing 3.6 kilograms of gold from the bank’s vault and using it as collateral to take out a loan. The incident occurred at the bank’s Jayanagar branch in Bengaluru. The accused, identified as Deepak, was a chief manager at the bank.
According to the police, Deepak had been working at the bank for several years and was aware of the security protocols in place. He allegedly stole the gold from the vault over a period of time, using his knowledge of the bank’s internal procedures to avoid detection.
Once he had stolen the gold, Deepak allegedly used it as collateral to take out a loan from another bank. The police have not disclosed the amount of the loan, but it is believed to be substantial.
The theft was discovered when a routine audit was conducted at the bank. The auditors found that a significant amount of gold was missing from the vault, and an investigation was launched. The police were called in, and after reviewing the CCTV footage and conducting inquiries, they identified Deepak as the prime suspect.
Deepak was arrested and charged with theft and cheating. The police have recovered 2.5 kilograms of the stolen gold, and efforts are underway to recover the remaining 1.1 kilograms. The bank has also launched an internal investigation into the incident and has suspended Deepak from his duties.
The incident has raised concerns about the security measures in place at the bank. The police have said that the theft was an “inside job” and that Deepak had taken advantage of his position to carry out the crime. The bank has assured customers that their deposits are safe and that it is taking steps to strengthen its security protocols.
The incident is a significant blow to the bank’s reputation, and it is likely to face scrutiny from regulatory authorities. The bank has promised to cooperate fully with the investigation and to take action against anyone found to be involved in the theft. The case is a reminder of the importance of strong internal controls and vigilant security measures to prevent such incidents from occurring.