The scam unfolded at the Dabra branch, where Vikas, transferred from Jhansi five months ago, executed the theft on September 21—a Sunday holiday. He collected locker keys, sent the security guard away for breakfast, disabled CCTV cameras, and swapped 4.38 kilograms of real gold with counterfeit jewelry in just 10 minutes. The fake pieces, purchased from Agra, were placed in eight boxes with branch security stickers to evade detection.
After the theft, Vikas transported the gold to Bharatpur, Rajasthan, using a rented car, leaving his father and wife to handle delivery. To avoid tracking, Maheshchandra left his phone at home and rented a room for storage. The duo sold 200 grams of the stolen gold through Vikas's brother-in-law in Agra, with the total value exceeding Rs.4 crore at market rates.
The fraud surfaced on September 25 during a routine check by the branch manager and vigilance team. Police arrested Vikas and Maheshchandra in Bharatpur on September 30, recovering 4.138 kilograms of gold and Rs.67,000 in cash. Investigations continue into possible involvement of other employees, like Chandrabhan Kushwaha, and traders in Jhansi and Agra who may have bought the stolen items.
Vikas, from the SC category and married in a love marriage to a Brahmin woman, had previously attempted a similar theft in Jhansi but failed. His father, remarried after losing his first wife, has a young son from the second marriage. TI Yashwant Goyal noted Vikas changed his story multiple times during questioning.
This incident highlights vulnerabilities in gold finance security, prompting calls for stricter protocols. Authorities are probing deeper to uncover any wider network.
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