Ahmedabad, May 23 (IANS) An employee working as a joint custodian at an RBI currency chest housed inside the Bank of Baroda branch in Ahmedabad’s Kalupur area has been arrested for allegedly embezzling Rs 8.70 crore over more than four months, with police recovering Rs 2.20 crore in cash concealed inside a parked car, officials said.

The accused, identified as Harshsiddh Kadiyara (42), a resident of Chandkheda area in Ahmedabad, was arrested by the Local Crime Branch (LCB) Zone-3 from Everest Enclave on Sola NFC Road, officials added on Saturday.

According to the police, Kadiyara was employed as a joint custodian at the RBI currency chest maintained at the Bank of Baroda branch on Gandhi Road in Kalupur.

Investigators alleged that between January 6 and May 13, he committed criminal breach of trust and theft of Rs 8.70 crore by manipulating official records linked to the “e-Kuber Currency Chest” portal.

Police said that the accused submitted false chest balance certificates and chest slips on the portal and entered false information in accounts and books to conceal the alleged misappropriation.

A case was registered at Kalupur police station on May 15 under Sections 316(5), 336(3) and 340 of the Bharatiya Nyaya Sanhita, 2023.

Police Sub-Inspector V.H. Rathod and his team were patrolling in the Zone-3 area during the investigation when they received specific information regarding the accused’s whereabouts.

During interrogation, the accused allegedly disclosed that a portion of the stolen money had been hidden inside an Ertiga car parked in the residential complex’s parking area.

Police said Kalupur police inspector V.N. Chaudhary and his team, in the presence of panch witnesses, carried out a recovery panchnama and seized Rs 2.20 crore in cash from the vehicle.

Officials said efforts were continuing to recover the remaining amount.

According to the police, property collectively valued at Rs 2,26,35,500 has been recovered so far.

The seized property includes cash worth Rs 2.20 crore, the Ertiga car valued at Rs six lakh, and three mobile phones collectively worth Rs 35,500.

Investigators alleged that Kadiyara carried out the theft with the assistance of two men identified as Zulfiqar Ansari and Sultan Ansari, who were engaged in loading and unloading work at the bank.

Describing the alleged modus operandi, police said the accused and the two workers entered the bank’s storeroom, where 174 reams stored in three boxes were redistributed into 14 separate boxes in smaller quantities.

The boxes were then loaded onto a trolley and transported out of the bank to the accused’s residence.

Police alleged that Zulfiqar Ansari and Sultan Ansari later removed bundles of Rs 500 denomination notes from the boxes and repacked them into three boxes.

According to the investigation, two of the boxes, allegedly containing around Rs 7 to Rs 8 crore, were taken by Kadiyara, while another cash-filled box allegedly containing around Rs 1 crore was taken away by the co-accused.

–IANS

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