Gold loan firm accuses woman employee, others of stealing pledged gold from head office in Bengaluru

A Bengaluru gold loan firm accuses an employee and associates of stealing pledged gold, leading to a police investigation.

The owner of a gold loan company, headquartered in Bengaluru, has filed a complaint with the Central Crime Branch against an woman employee and her associates for allegedly cheating the company by stealing pledged gold ornaments.

Based on the complaint the Central Crime Branch police registered a case against 13 employees charging them under Sections 189 (unlawful assembly), 238 (causing the disappearance of evidence or giving false information to screen an offender), 61 (criminal conspiracy), 316 (criminal Breach of Trust) and 318 (cheating) of Bharatiya Nyaya Sanhita, 2023, on April 4.

According to the complaint, the woman employee had been working with the company since 2015. She was entrusted with handling pledged gold valuables coming to the head office from 200 branches across India. It is alleged that, over a period of time, she, along with her associates, misappropriated gold ornaments weighing several grams from the company’s custody.

The complaint further states that the accused diverted the stolen gold with the help of insiders and external contacts. A cashier and an attender working on a contract basis are suspected to have assisted in the illegal activity. The stolen gold was allegedly sold through local contacts in a gold shop at Chickpete, and the proceeds were shared among the accused.

Police said the accused used the money for personal expenses, including purchase of luxury items and hotel stay.

The complaint also names family members and associates of the employees, who allegedly helped in disposing off the stolen gold, and laundering the money and purchasing property.