Loan Denial, A Spanish Drama And 17 kg Gold Heist: How Gang Looted SBI Bank

A loan rejection drove a 30-year-old man to rely on TV shows and YouTube tutorials to carry out a huge robbery at the State Bank of India (SBI) in Karnataka's Davangere last year, police said, as they recovered 17 kg of gold worth Rs 13 crore and arrested six people in the case.

The prime accused was identified as Vijaykumar and he was assisted by Ajaykumar (28), Abheesheka (23), Chandru (23), Manjunath (32) and Paramananda (30) in the heist that took place in the Nyamati branch on October 28. 

"Vijaykumar and Ajaykumar are brothers while Paramanda is the husband of their sister. All three are originally from Tamil Nadu but have had a sweets business in Nyamati for many years. The other three accused, Abhisheka, Chandru and Manjunath are from Nyamati," the police said in a statement. 

Reason Behind Heist

The police said that an investigation into the robbery revealed that Vijaykumar was facing financial distress when he approached SBI for a Rs 15 lakh loan in August last year. His loan application was, however, rejected by the bank, prompting him to think of other means to obtain the money. 

How Accused Planned Robbery

Vijaykumar drew inspiration from Spanish crime drama 'Money Heist' and immersed himself in YouTube videos for six to nine months to chalk out the robbery plan, taking extreme precautions to cover his tracks. 

Flawless Execution A Challenge For Cops

Vijaykumar, the police said, took help from his brother, brother-in-law and three trusted associates for the heist. He and Chandru carried out multiple recce of the bank and held mock drills at night, through deserted fields, to assess police and civilian movement, and the time taken. 

The gang used equipment like silent hydraulic iron cutters and gas-cutting tools to break into the bank lockers. Further, the entry through a window, decamping with the DVR and complete non-usage of mobile phones left the cops struggling for clues to solve the case. 

Vijaykumar even erased serial numbers from an oxygen cylinder that he used for cutting security barriers. The accused had also spread chilli powder across the premises, including the strong room and the manager's cabin. 

Meanwhile, the gang had already started liquidating the gold, reinvesting in businesses and even selling them to use the money to buy houses.

Probe Extended To Other States

From November to February, the investigation teams conducted several operations in difficult terrains across various states, mainly Gujarat, Rajasthan, Delhi and Uttar Pradesh to apprehend the accused, the police said.

At one point, the gathered evidence pointed at a network of individuals from Tamil Nadu, who used to work in tandem with local associates in Nyamati. After continuous investigation, the cops arrested the six accused. 

Gold Hidden In Unusual Spot

After arresting the accused, the police launched an extensive operation to recover the stolen items across Tamil Nadu, particularly in Usilampatti town of Madurai district. A team of officers, with the help of expert swimmers, retrieved a locker filled with nearly 15 kg of gold from a 30-foot-deep irrigation well on a farm. 

Police said Vijaykumar had planned to hide the locker inside the well and recover it after two years, to avoid suspicion. 

Some of the stolen gold was pledged under false identities across financial institutions or sold at jewellery shops. The police have managed to recover all the stolen gold.