Former bank appraiser held for stealing gold ornaments worth ₹1.80 crore; 1.198 kg recovered
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Rajanukunte police arrested former bank appraiser Pavan Kumar for stealing gold ornaments worth ₹1.80 crore.
- ✓He cheated the bank of ₹35.40 lakh by using fake gold and stealing customer jewellery.
- ✓Police recovered 1.198 kg of gold between October 14 and 22.
Story at a Glance
- Category
- Indian Markets
- Reported By
- The Hindu
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Rajanukunte police arrested a former bank appraiser for allegedly cheating a bank of ₹35.40 lakh by opening gold loan accounts in other people’s names and pledging fake gold ornaments. He also allegedly stole gold ornaments pledged by several customers and mortgaged them at jewellery shops to raise money.
Pavan Kumar, 35, a resident of Rojipura Gate in Doddaballapur, is among the arrested accused. The police have recovered 1.198 kg of gold ornaments, valued at approximately ₹1.80 crore, in connection with the case.
According to the police, the complainant, a regional manager of a bank operating within the Rajanukunte Police Station limits, lodged a complaint on October 9.
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The Hindu
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