No Loan? No Problem: YouTube-Inspired Gang Pulls Off ₹17 Crore Gold Heist, 6 Busted

 Karnataka (The Uttam Hindu) : ​In a meticulously planned operation reminiscent of popular crime dramas, a six-member gang executed a ₹17 crore gold heist at the State Bank of India's (SBI) Nyamati branch in Karnataka's Davangere district. The heist, which occurred on October 28, 2024, involved the theft of approximately 17.7 kilograms of pledged gold ornaments. After an extensive five-month investigation, Karnataka police apprehended all six suspects and recovered the stolen gold.​

The Mastermind and Motive

The orchestrator of the heist, Vijaykumar, aged 30, operated a sweets business in Nyamati alongside his brother, Ajaykumar, 28, and brother-in-law, Paramananda, 30. The trio, originally from Tamil Nadu, had established their enterprise in Nyamati over several years. Local residents Abhisheka, 23, Chandru, 23, and Manjunath, 32, completed the group.​ Vijaykumar's initial intent was to expand his bakery business, for which he sought a loan of ₹15 lakh from the SBI Nyamati branch in March 2023. However, his application was declined due to a poor credit score. Subsequent attempts to secure the loan under relatives' names also failed. Frustrated by these rejections, Vijaykumar conceived the plan to rob the bank, drawing inspiration from crime series like 'Money Heist' and various YouTube tutorials. ​

The Execution of the Heist

Over six months, the gang meticulously planned the robbery. On the weekend of October 28, 2024, they executed their plan by removing an iron grill from a window to gain entry into the bank. Using advanced tools, including gas cutters, they breached the strong room locker and seized the pledged gold. To obscure evidence and mislead investigators, they removed the bank's digital video recorder (DVR) containing CCTV footage and scattered chili powder around the crime scene to interfere with forensic tracking and sniffer dogs. ​

Investigation and Arrests

The heist posed significant challenges for law enforcement due to the lack of immediate evidence. The Davangere District Police, under the leadership of Superintendent of Police Uma Prashanth and Assistant Superintendent Sam Varghese, initiated a thorough investigation. The breakthrough came when technical evidence pointed towards individuals from Tamil Nadu with local connections in Nyamati. This led to the identification and subsequent arrest of Vijaykumar and his associates. ​

Recovery of Stolen Gold

Following the arrests, the stolen gold was traced to a dilapidated well located within a dense forest in Usalampatti town, Madurai district, Tamil Nadu. Divers were employed to retrieve the gold from the 30-foot-deep well, successfully recovering the entire 17.7 kilograms. ​

Legal Proceedings and Implications

The arrested individuals face multiple charges under the Bharatiya Nyaya Sanhita (BNS), 2023. This case underscores the influence of digital media on criminal activities and highlights the necessity for financial institutions to enhance security measures. The incident also emphasizes the importance of addressing the underlying issues that drive individuals to commit such crimes, including financial distress and the impact of media portrayals of criminality.​ The SBI Nyamati branch heist serves as a stark reminder of the evolving nature of criminal activities influenced by modern media. The successful resolution of this case by Karnataka police not only brings the perpetrators to justice but also reinforces the critical need for vigilance and robust security protocols in financial institutions.​