BENGALURU: A 35-year-old gold appraiser at a public sector bank who allegedly stole gold jewellery pledged by customers and fraudulently obtained gold loans using fake ornaments has been arrested by Rajanukunte police.
The police have recovered 1.198 kg of gold jewellery worth approximately Rs 1.80 crore from various jewellery shops where the accused had pledged the stolen ornaments. The complaint was filed by the bank’s regional manager. The accused R Pavan Kumar, a goldsmith by profession. He is a resident of Doddaballapura.
The accused, who was working as a gold appraiser at a bank under the jurisdiction of Rajanukunte Police Station, allegedly opened gold loan accounts in the names of other individuals and pledged fake gold ornaments to cheat the bank of Rs 35.40 lakh.
He also allegedly stole 1 kg and 198 grams of gold jewellery pledged by different customers against gold loans and pledged the stolen ornaments at various jewellery shops to raise money. The bank’s regional manager lodged a complaint with Rajanukunte police on October 9, 2026, following which a case was registered and an investigation was initiated.
During the investigation, police gathered information from various sources and, acting on a tip-off, arrested the accused from his residence near Rojipura Gate in Doddaballapura on October 13, 2026. During interrogation, he allegedly confessed to his involvement in the crime.
The accused was produced before a court on October 13 and taken into 10 days of police custody for further interrogation. During questioning, he reportedly revealed that he had pledged the stolen gold jewellery at two jewellery shops in Rajanukunte and four shops in Doddaballapura. Police recovered 1.198 kg of gold jewellery between October 14 and 22 from two jewellery shops in Rajanukunte and two shops in Doddaballapura.