Salesman's Rs 17cr gold pilfering efforts exposed
LUCKNOW, May 30 -- A trusted employee who had worked for 17 years at a jewellery showroom in Hardoi allegedly stole 19 kilograms of gold worth Rs 17 crore over a span of five years. The theft went undetected until the owner reviewed footage from 42 CCTV cameras and scrutinised the movements of 40 staff members, eventually uncovering the long-running inside job.
According to police, the case came to light after showroom owner Shivam Kapoor, a prominent bullion trader in Hardoi, lodged a complaint at the Hardoi City Kotwali police station on May 23. The accused, Bal Krishna Pandey, had joined the establishment in 2008 and gradually became one of the most trusted employees over the years.
According to Hardoi additional superintendent of police (ASP), East, Nripendra Singh, the accused spent more than a decade building trust before executing the theft. "Pandey took around 12 years to win the trader's confidence and then began stealing small amounts of gold powder, particles, and tiny fragments, during the making process," said ASP Singh.
The police said that the theft was carried out in such small quantities, 20 to 30 grams at a time, that it went unnoticed. The accused allegedly hid the stolen gold in cleverly stitched openings in his trousers and shirt sleeves while working at the showroom.
Pandey was arrested along with his alleged accomplice, Ravindra Kumar Verma alias Ravi, who owns a small jewellery shop in Hardoi. Police stated that Pandey had been selling the stolen gold to Ravi over the years.
Following the arrests on Wednesday, police recovered approximately Rs 25 lakh in cash and 595.93 grams of gold worth Rs 55 lakh from Pandey's possession. From Ravi, officials seized Rs 11.62 lakh in cash and 369.58 grams of gold worth Rs 36 lakh, according to ASP Singh.
"The trader has not yet shared the exact details of every item stolen, but based on his estimates and media reports, the value of the stolen gold is around Rs 17 crore," he said.
He added that the accused targeted gold remnants, powder and particles, that are typically overlooked or lost during jewellery shaping. These were systematically collected and smuggled out over the years.
Pandey's movements, especially when leaving the showroom at closing time, reportedly appeared suspicious during CCTV footage reviews, which eventually led to the filing of the first information report (FIR).
Police are also investigating the possible involvement of Pandey's father and brother, both of whom were previously employed at the same showroom. While no charges have been filed against them so far, investigators are verifying whether they were aware of or participated in the prolonged theft.
Both Pandey and Ravi are currently in police custody, and questioning is ongoing to determine the whereabouts of the remaining stolen gold and any other potential links in the chain....
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