Davangere Cops Recover 17.7 kg Stolen Gold, Crack SBI Nyamathi Heist

Davangere police have cracked the sensational SBI Nyamathi branch heist, where robbers stole 17.7 kg of gold worth ₹13 crore. Investigations revealed that the crime was motivated by revenge after the bank rejected a loan request from the accused for expanding their bakery business.

Locals Turned Criminals, Cylinder Led to Their Arrest

The suspects, who had no prior criminal record, lived near the bank. A discarded gas cylinder found behind the SBI branch played a key role in leading investigators to them. The robbery, which took place in October 2024, remained unsolved for months until Davangere district police successfully apprehended six individuals.

From Loan Rejection to Robbery Plan

Speaking to the media on Monday, Superintendent of Police (SP) Uma Prashanth revealed that Tamil Nadu natives Ajaykumar and Vijaykumar had been running a bakery in Nyamathi for several years. They planned to expand their business and applied for a loan at the bank.

According to police findings, Ajaykumar, an SBI customer, was initially given assurances by the bank staff, who allegedly even took a bribe from him. However, his loan application was ultimately rejected due to a poor credit score. Furious over the denial, Ajaykumar decided to take matters into his own hands and plotted the bank heist. He shared his plan with his brother Vijaykumar, and the duo roped in Paramanand, Abhishek, Chandrashekhar, and Manjunath—three of whom also hailed from Tamil Nadu. The six-member gang met at Surahonne School, where they finalized their strategy. Their motivation extended beyond financial need; they wanted to lead a lavish lifestyle.

Meticulous Planning and Execution

Fifteen days before the robbery, Vijaykumar conducted a thorough reconnaissance of the bank. He observed the security arrangements, noted the movements of the police patrols, and identified weak points in the bank’s layout. The gang ensured they were well-prepared, studying every detail to execute the crime without detection.

Destroying Evidence to Avoid Capture

SP Uma Prashanth detailed how the gang took extreme measures to erase all traces of their involvement. After committing the robbery, Vijaykumar stored the stolen gold in the trunk of a silver Duster SUV parked at his residence. During questioning, he confessed to destroying evidence, including gloves and caps used during the crime. The gang also disposed of the hydraulic cutter, gas cylinder, and other tools by dumping them into Savalanga Lake. Additionally, to ensure no digital evidence remained, they shattered the bank’s hard disk and DVR with stones before discarding them in the lake.

Gold Hidden in a Deep Well

In November, Vijaykumar transported the stolen gold to his ancestral home in Tamil Nadu. His house was located in an isolated area on the outskirts of a town, surrounded by dense forests. To keep the gold safe from authorities, he placed it in a small locker and submerged it in a 25-30 feet deep well near his home.

The police’s persistence and strategic investigation ultimately led to the unraveling of the case, bringing the culprits to justice.