Three employees arrested for stealing ₹21 crore gold from Dombivali finance firm
The Property Cell of the Mumbai Crime Branch has apprehended Shivkumar Ayer, 30, Shivaji Patil, 29, and Sachin Salunkhe, 41
Mumbai: Three employees of a financial services company have been arrested for allegedly misappropriating 29 kilogrammes of gold kept in bank lockers and using it to secure loans for stock market investments, police officials said on Wednesday.
The Property Cell of the Mumbai Crime Branch apprehended Shivkumar Ayer, 30, Shivaji Patil, 29, and Sachin Salunkhe, 41, following an investigation into the fraud uncovered during an audit in April.
Ayer, who served as the manager of Rover Finance's Dombivali branch, and Patil, the area head, allegedly removed 260 packets of gold ornaments belonging to various customers from the bank locker between January and April. They then used this gold to obtain loans from a private bank, investing the proceeds in the share market through Salunkhe, a bullion trader, according to a crime branch official.
The scheme came to light when the audit revealed the missing gold, valued at approximately ₹1.5 crore. An internal inquiry found that Ayer and Patil had access to the locker and possession of the keys.
"When confronted, they initially avoided direct answers but later revealed the facts," said the official, who spoke on condition of anonymity due to the ongoing investigation.
Akash Pachlod, an employee of the firm, reported the matter to the Sakinaka police station, where a case was registered under sections 420, 408, 409, 506 (2), 120 (b), and 34 of the Indian Penal Code. The case was subsequently transferred to the crime branch for further investigation.
Investigators verified Ayer's bank statements, tracing the transactions and his investments in the share market. All three suspects were arrested on Tuesday and produced in court, where they were remanded in police custody until 6 August.