Ex-Bank Manager Arrested in Kandivli for Stealing Locker Gold to Fund UP Liquor Shop

The Kandivli police have arrested a 35-year-old former bank manager for allegedly stealing gold jewellery from a customer's locker at a branch in Kandivli and using the proceeds to open a government-authorised liquor shop in Uttar Pradesh.

The accused, identified as Kuldeep Ramchandra Sahani, allegedly targeted bank lockers belonging to senior citizens and non-resident Indians (NRIs). Sahani operated under the assumption that these account holders were less likely to visit the branch or inspect their lockers on a regular basis.

According to police investigators, Sahani took jewellery from an elderly NRI's bank locker and pledged the stolen valuables. The proceeds generated from the pledged gold were subsequently diverted to establish an authorised alcohol retail outlet in Gorakhpur district, Uttar Pradesh.

The crime came to light following a formal complaint, prompting the Kandivli police to launch an investigation. During the financial probe, investigators tracked transactions amounting to nearly Rs 9 crore across Sahani's bank accounts.

Police apprehended Sahani and successfully recovered all of the complainant's stolen jewellery within four days of initiating the probe.