A fraud involving the theft of gold pledged under customer gold loan accounts has been detected at Punjab National Bank’s Nawalgarh branch in Jhunjhunu district, prompting a police investigation and internal action by the bank.
According to the investigation, gold packets kept in the branch b room as collateral for customer gold loans were found tampered with. Of the total packets examined, 73 were found to contain imitation jewellery instead of original gold, while the weight of three packets was found to be lower than recorded. In total, 4,198 grams of gold were found missing, with an estimated value of Rs 6.50 crore.
The irregularities came to light on January 28 during the handover of charge of the gold safe to deputy manager Seema Mahla. During verification, signs of tampering with the packets were detected, following which the bank initiated an internal inquiry.
The inquiry identified the then branch manager, Amit Kumar Jangid, as the prime accused. Police investigations have found that the accused allegedly used the proceeds from the stolen gold to purchase land at multiple locations and to set up a dairy plant. He resides with his family in Seethal Gudha Gudaudji area of Jhunjhunu.
Cases have also been registered against bank colleague deputy manager Anantprakash Chaudhary and business correspondent operator Santosh Kumar. The bank has initiated legal action against all those named in the case.
Police investigations have further revealed alleged irregularities in loan disbursement, including loans issued in the names of individuals who were found to be non-existent. Irregularities were also detected in loans sanctioned under several government schemes, raising the possibility that the total amount involved in the fraud could increase. The exact financial loss will be determined after completion of the investigation.
Following the disclosure of the fraud, customers who had availed gold loans from the branch have expressed concern over the safety of their pledged jewellery. The bank has lodged a formal complaint with the police and stated that it is fully cooperating with the investigation.
