Bengaluru bank deputy manager steals Rs 3.5-crore gold from lockers for online gambling

Mangalore Today News Network

Bengaluru, Feb 16, 2026: A deputy manager of a bank in Bengaluru, Karnataka, was arrested for allegedly misappropriating and unauthorisedly mortgaging gold ornaments belonging to multiple customers, police said. The total weight of the gold involved was 2,780 grams, valued at over ₹3.5 crore.

The alleged fraud came to light after the bank’s chief manager filed a complaint at Girinagar police station, Bengaluru, on February 5, triggering a police investigation, news agency PTI reported.

How fraud was carried out

Citing the complaint, police said the accused allegedly removed 2,780 grams of customers’ gold ornaments from bank lockers without informing higher authorities and pledged them with a finance company.

During the inquiry, officials discovered prima facie evidence indicating that the proceeds may have been spent on online betting.

“The accused deputy bank manager has been arrested in this case. We are trying to recover the gold. So far, about 700 grams have been recovered,” said Lokesh B Jagalasar, Deputy Commissioner of Police (South).

“We are not getting the desired cooperation from the financiers. We will move the court and initiate appropriate legal action against them. Further investigation is underway,” he added.

In a separate news, a 29-year-old software engineer from Bengaluru was tricked into losing more than ₹1.5 crore by a man she met on a matrimonial website.

The woman, Navya Shree, met the man in March 2024 through a community matrimony site. The man said his name was Vijay and claimed to be a wealthy businessman who owned companies, trucks, land, and houses in posh areas of Bengaluru.

He also said he had assets worth hundreds of crores. To make his story sound real, he showed her old court papers and promised to marry her soon.