Inside Job: Karnataka Canara Bank Manager Nabbed In Rs 53 Crore Gold Theft
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The perpetrators reportedly cut window rods to gain entry between May 23 and May 25, forced open a safe locker, and removed the CCTV equipment to conceal their identities.
In a significant breakthrough, the Vijayapura District Police have arrested three individuals, including a senior bank manager, connected to the theft of nearly 59 kg of gold from a Canara Bank branch in Managuli on May 26. The robbery, initially valued at Rs 53.26 crore in gold ornaments and Rs 5.20 lakh in cash, posed a considerable challenge for law enforcement.
The arrested individuals are Vijayakumar Mohanara Miriyala (41), the Senior Manager of the Canara Bank branch, and his alleged accomplices Chandrashekar Kotilingam Nerella (38) and Sunil Narrasimhalu Moka (40), all apprehended from Hubballi. Authorities have recovered gold jewellery and bars worth Rs 10.75 crore and two vehicles believed to have been used in the crime. The search for the remaining suspects and stolen valuables is ongoing.
Police investigations reveal that the heist was meticulously planned, involving prior reconnaissance. The perpetrators reportedly cut window rods to gain entry between May 23 and May 25, forced open a safe locker, and removed the CCTV equipment to conceal their identities. To divert police attention, some materials were strategically placed within the bank premises. Eight special teams conducted extensive investigations across various states for over a month, leading to these arrests.
The Incident
The police state that the bank employees closed the branch on the evening of May 23. The bank was on holiday on May 24 (fourth Saturday) and May 25 (Sunday). On the morning of May 26, when the bank peon arrived for cleaning, he noticed that the locks of the shutter were cut. He immediately informed the bank officials and the police.
The investigation revealed that the thieves broke into the bank and escaped with gold from the locker. This gold was deposited in the bank under gold loans.
First Published:
June 27, 2025, 11:56 IST
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