Bank of Baroda gold appraiser arrested for ₹10 crore jewellery theft in Andhra Pradesh
The Jangareddygudem police in Eluru district have arrested a gold appraiser for allegedly stealing gold ornaments worth approximately ₹10 crore from a Bank of Baroda branch. The accused, identified as Chalapaka Raju, is said to have replaced pledged gold with imitation jewellery and other materials.
Addressing a press conference on Friday, Superintendent of Police K. Pratap Shiva Kishore stated that the accused tampered with gold pledged under 176 loan accounts, defrauding both customers and the bank. The investigation revealed that Raju misappropriated 6.449 kg of gold ornaments and sold them at various jewellery shops.
The police have recovered 4.120 kg of gold ornaments and ₹10 lakh in cash from the accused. Additional Superintendent of Police R. Sushmitha, who supervised the investigation, confirmed that further inquiry is underway to determine if others were involved in the offence.
The arrest comes after a detailed probe into complaints of missing gold from the bank's locker. Authorities have urged customers to verify their pledged items and report any discrepancies. The bank has assured cooperation with the investigation.
