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This story is from December 27, 2006
Ryots lose Rs 5-cr gold in bank heist
Thieves struck at the Chaitanya Godavari Grameena Bank during the Sunday-Christmas two-day break and walked away with gold worth over Rs 5 crore.
Police are suspecting it to be an inside job. The bank officials have assured the farmers that they need not panic as the gold is insured.
After four hours of panchanama, the management announced that 47 kg of gold ornaments and jewellery were stolen from the safe by unidentified persons.
Over 2,000 farmers of at least four villages — Dechavaram, Rupenguntla, Turakapalem and Narsaraopet — in the district have availed of loans to the extent of Rs 2.58 crore by pledging their gold valuables with the bank, which is one km away from the local police station.
The staff learnt about the theft after opening the branch on Tuesday morning, 48 hours after it was closed for Sunday and Christmas.
Manager M V R Seshu Kumar said the branch was closed at 2.30 pm on Saturday and opened by sweeper-cum-messenger Venkateswarlu on Tuesday. He said Venkateswarlu alerted him about the heist.
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