Bank Gold Loan Officer Arrested for Stealing Gold Worth Rs.2 Crore
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In a shocking case of bank fraud, a gold loan officer working at Catholic Syrian Bank was arrested for stealing gold ornaments worth around ₹2 crore. The accused, T.P. Sanjay, aged 33, used his position in the bank to carry out the fraud and fund a lavish lifestyle.
Inspired by a Movie, He Took the Wrong Path
Sanjay, reportedly inspired by the movie Lucky Bhaskar starring Dulquer Salmaan, tried to follow a similar path in real life. Instead of working honestly, he chose to misuse his job to raise large sums of money. He lived an extravagant life, spending heavily on online gambling and luxury entertainment.
How the Fraud Happened
Sanjay joined Catholic Syrian Bank in October 2024 as a gold loan officer. His main job was to check gold ornaments pledged by customers and prepare documents to sanction loans. But instead of doing his job responsibly, he found ways to exploit the system.
- Fake Gold Scam: He mortgaged 2 kg 744 grams of fake gold ornaments in the same bank where he worked. He used the names of his friends and family members to get a loan of ₹1.52 crore. Since he was the person in charge of approving gold loans, no one doubted him.
- Stolen Genuine Gold: Sanjay didn’t stop there. He also stole genuine gold ornaments that customers had pledged at the bank. He then mortgaged these ornaments at a nationalised bank and a private finance company to raise even more money.
Gold Worth Crores Recovered
According to Superintendent of Police Uma Prashanth, a total of 3 kg 643 grams of gold ornaments were recovered from Sanjay. These included both the fake gold used for the fraud and genuine gold stolen from the bank.
He had taken loans worth crores using these gold ornaments, all in the names of his parents and himself. Most of the money was used on gambling and living a high-end lifestyle.
Audit Uncovers the Crime
The fraud came to light when the bank conducted an internal audit in April. During the audit, officials discovered a mismatch in the gold stock and customer records. They also found that some pledged gold ornaments were missing.
Suspicious of foul play, the bank staff checked CCTV footage and then contacted the KTJ Nagar police station. Sanjay was taken into custody and, during questioning, confessed to the crime.
Background of the Accused
Sanjay is a BCA graduate and had earlier worked with private finance companies as a pawnbroker for gold loans. He joined Catholic Syrian Bank just a year ago. Ironically, the bank had even praised him for quickly handling a large volume of gold mortgage cases — not knowing he was running a fraud in the background.
