Factory staffer steals 47 bikes

BANGALORE: After suffering a loss of Rs 4.5 lakh from chit fund business, a factory employee decided to use his skills of duplicate key-making . He stole bikes and sold them at throwaway prices. The success encouraged 28-year-old Yogananda Somshekar alias Babu to ride away with 47 two-wheelers in the past two years. But a night-long police checking stopped the Chikmagalur native from scoring a half century in his acquisitions.
Magadi Road police have so far recovered 35 stolen motorbikes and are looking for 12 more. The total value of these vehicles is estimated to be Rs 18 lakh, police added. Police said Yogananda, who was a floor supervisor with a private factory on Bannerghatta Road, sustained a loss of about Rs 4.5 lakh when he invested money in a local chit fund business. ‘‘ He had married a woman named Veena from Chintamani. It was a love marriage and Yogananda lost family support after the marriage ,” police said.
Meanwhile the newly married couple decided to earn a fast buck and as advised by a neighbour, Veena forced Yogananda to invest in chit fund. It all happened in 2009.
“The couple sustained loss and debtors started harassing Yogananda. The accused was good in making duplicate keys. So he decided to ride away with parked two-wheelers ,” police said. Yogananda's spree came to an end when Magadi Road police stopped a motorist last week. Unaware that it was a stolen bike, the man had brought it from Yoganada for around Rs 20,000. “Yogananda would say he would hand over all documents after receiving the full amount,” police added.