“Money Heist” Inspired Robbery Ends with Six Arrests and Recovery of Stolen Gold
In a significant breakthrough, the Karnataka Police have solved the high-profile Nyamati bank heist case that shocked the banking sector last year. Six suspects were arrested on March 31, 2025, nearly five months after approximately 17.7 kg of gold ornaments valued at Rs 13 crore were stolen from a State Bank of India (SBI) branch in Nyamati, Davanagere district.
The Meticulously Planned Heist
The robbery, which took place on October 26, 2024, remained undiscovered until October 28 when the bank reopened after the weekend. The thieves executed a well-planned operation by cutting through a window grill to gain entry into the bank premises. Using sophisticated equipment, they breached the strongroom locker containing pledged gold ornaments.
In a calculated move to eliminate evidence, the perpetrators removed the CCTV digital video recorder (DVR) and scattered chili powder throughout the premises to prevent sniffer dogs from tracking their scent. The level of planning indicated that this was not an impulsive crime but rather a carefully orchestrated operation months in the making.
Davanagere, Karnataka: Inspector-General of Police (Eastern Range) B.R. Ravikanthe Gowda says, “Eventually, the investigation led them to the local Nyamathi gang. The police arrested six individuals, all of whom were locals. The gang had meticulously planned the heist, ensuring… pic.twitter.com/JqtgDiP5CW
— IANS (@ians_india) March 31, 2025
Also Read: Freight Train Collision on NTPC Private Line Claims Two Lives in Jharkhand
Six Suspects Arrested After Extensive Investigation
The Davanagere District Police arrested six individuals:
- Vijay Kumar (30), identified as the mastermind
- Ajay Kumar (28), Vijay’s brother
- Paramananda (30), brother-in-law of the Kumar brothers
- Abheesheka (23), a local resident
- Chandru (23), a local resident
- Manjunath (32), a local resident
Investigations revealed that the Kumar brothers and Paramananda, originally from Tamil Nadu, had been operating a sweets business in Nyamati for several years, establishing themselves as part of the local community while secretly planning the heist.
Inspiration from Popular Culture and Meticulous Planning
According to police officials, the group drew inspiration from the popular Netflix series “Money Heist” and extensively used YouTube tutorials to perfect their techniques. The planning phase stretched over 6-9 months, during which the group conducted night reconnaissance missions to understand the bank’s layout and security measures.
“The accused used silent hydraulic cutters and gas-cutting equipment to minimize noise during the operation,” said Superintendent Uma Prashanth, who led the investigation. “They even went to the extent of erasing identification marks and serial numbers from their equipment to avoid being traced.”
Recovery of the Stolen Gold
In a remarkable development, police recovered nearly all the stolen gold, with approximately 15 kg found in a locker submerged in a 30-foot-deep well in Usalampatti, Madurai district, Tamil Nadu.
“The gang had initially hidden the loot in a car in Nyamati for three days before transporting it to Tamil Nadu,” explained Assistant Superintendent Sam Varghese, who was part of the investigating team. “Their plan was to divide the gold after two years when they believed the case would have received less attention.”
Inspired by ‘Money Heist,’ a businessman, drowning in debt, plotted Karnataka’s one of biggest gold heists—Rs 13 crore in pledged gold from SBI Bank, Nyamati, Davanagere.
What followed was a 5-month chase across India, leading to a dramatic recovery. @XpressBengaluru A 🧵 pic.twitter.com/CPemT2dbJN
— Marx Tejaswi | ಮಾರ್ಕ್ಸ್ ತೇಜಸ್ವಿ (@_marxtejaswi) March 31, 2025
Also Read: When Immigration Policy Meets Personal Reality: The Bartell-Muñoz Detention Case
Cracking a Case with No Initial Leads
What makes this case particularly noteworthy is that investigators had virtually no leads to work with initially. With no fingerprints, CCTV footage, or phone data available, the police had to rely on innovative investigative techniques and extensive operations across multiple states.
“This case represents one of the most challenging investigations we’ve handled,” Superintendent Prashanth noted. “Our teams worked tirelessly, following even the smallest leads and coordinating with police in other states to eventually crack the case.”
During the course of the investigation, the police also apprehended members of the notorious Kakrala gang from Uttar Pradesh. While these individuals were linked to other bank robberies across South India, they were not directly involved in the Nyamati case.
Personal Grievance as Motive
The investigation uncovered that personal grievance played a significant role in motivating the heist. Ajay Kumar had reportedly applied for a bank loan that was rejected despite allegedly paying a bribe. This rejection appears to have fueled his frustration and contributed to the decision to target the bank.
“What began as a personal grievance evolved into a meticulously planned criminal operation,” said a senior police official. “This case demonstrates how seemingly ordinary individuals can be driven to commit extraordinary crimes when they feel wronged.”
Also Read: Indian MPs Receive 24% Salary Increase: New Compensation Package Details
Banking Sector Response
Following the heist, the banking sector has reportedly initiated a review of security protocols, particularly for branches in smaller towns and rural areas where security infrastructure might not be as robust as in urban centers.
An SBI official, speaking on condition of anonymity, stated that the bank is implementing additional security measures at branches holding significant valuables, including improved surveillance systems and enhanced physical security features.
The successful resolution of the Nyamati bank heist case stands as a testament to the persistence and investigative acumen of the Karnataka Police, who refused to let the case go cold despite the numerous challenges they faced.
Follow Us on Instagram | Twitter | Facebook | YouTube | Flipboard | Google News
