Bank manager steals gold worth ₹4cr to pay gambling debts
India
Kiran Kumar E, a 33-year-old assistant manager at Indian Bank's Girinagar branch, was arrested for stealing gold worth ₹4 crore from the bank.
Over several months, he quietly took gold pledged by customers—2.7kg from 24 packets—misusing his authorized access.
He then pawned the stolen gold at finance companies to pay off his ₹60 lakh online gambling debt.
How the case unfolded
The theft came to light when a customer noticed her jewelry missing after repaying her loan in February 2026.
After an internal inquiry, Kumar admitted to everything.
Police have recovered about 1.2kg of the stolen gold so far and are pushing finance firms to cooperate as they search for the rest and look into how security slipped at the bank.