Inside Job Heist: SBI Employee and Accomplices Arrested in Multi-Crore Bank Theft

A contractual employee at SBI and four associates were arrested for stealing gold and cash from the bank's branch in Ujjain, Madhya Pradesh. CCTV footage led to their capture. The stolen gold belonged to customers with loans. Bank officials face suspension over negligence.

In a dramatic turn of events, a State Bank of India (SBI) contractual employee along with four associates has been apprehended for allegedly looting jewellery and cash worth crores from the bank's Mahananda Nagar branch in Ujjain, Madhya Pradesh.

The accused, identified through meticulous surveillance of CCTV footage, were caught after they bypassed security measures and executed the heist without leaving visible signs of forced entry. The stolen valuables included gold from individuals who had mortgaged their jewellery for loans at the bank.

Superintendent of Police Pradeep Sharma confirmed the recovery of gold worth Rs 5 crore and Rs 8 lakh in cash, announcing a reward for the investigative team while suspending three bank officials for negligence.

(With inputs from agencies.)