Bengaluru, India – Three individuals have been arrested and a significant portion of the stolen funds recovered following a 70 million Indian rupee (approximately $800,000 USD) cash heist that occurred in Bengaluru on Wednesday afternoon. The incident involved individuals impersonating Reserve Bank of India officials to intercept and rob a cash transport vehicle.
Incident Details
On Wednesday, a cash-in-transit van, moving funds between bank branches in Bengaluru, was intercepted by six individuals in an SUV. The vehicle was occupied by a driver, a cash custodian, and two armed security guards. The perpetrators, claiming to be officials from the Reserve Bank of India, informed the van's occupants that they needed to verify documentation for the large sum of money.
The custodian and security guards were instructed to relinquish their weapons, place them in the van, and enter the perpetrators' SUV. The driver of the cash van was then directed to continue driving. After following the cash van for several kilometers, the perpetrators forced the driver out of the van, removed the cash custodian and guards from their SUV, transferred the cash under threat of weapons, and subsequently departed the scene. The robbery took place on a busy city road in daylight.
Authorities noted that the SUV used in the initial interception bore a counterfeit license plate and a 'Government of India' decal.
Investigation and Arrests
Bengaluru police initiated an extensive investigation, deploying over 200 officers across Karnataka and neighboring states including Kerala, Tamil Nadu, Telangana, Andhra Pradesh, and Goa. Investigators found limited CCTV coverage in the immediate vicinity of the incident and determined that the perpetrators utilized multiple vehicles and selected locations with limited surveillance during the transfer of cash boxes.
On Saturday, three days after the incident, police announced the arrest of three individuals in connection with the robbery. Bengaluru police commissioner Seemant Kumar Singh identified the arrested suspects as:
- Gopal Prasad, an employee of the cash transport company CMS.
- J Xavier, a former employee of CMS.
- Annappa Naik, a local police constable.
An ongoing search is underway for additional individuals believed to be involved in the crime.
Funds Recovery and Vehicle Retrieval
Law enforcement officials announced the recovery of 57.6 million rupees of the stolen funds. Karnataka Chief Minister Siddaramaiah confirmed that the SUV initially used by the perpetrators was recovered by police. Home Minister G Parameshwara stated that the specific vehicle used by the suspects for their final escape remained undetermined, noting that the money was transferred between vehicles. He expressed confidence in a prompt resolution of the case, referencing successful past investigations into significant bank robberies in Karnataka.
Company Scrutiny
Detectives are also examining the role of CMS, the cash transport company, and potential violations of established guidelines for cash transfers, such as the recommendation to vary vehicle routes and timings to avoid predictability. Police are also investigating the potential involvement of other employees from the cash transportation company.