Gwalior finance employee steals ₹4 crore gold:Assistant manager conspired with father; replaced real gold with fake jewelry bought for ₹30,000 to get rich quickly

In a meticulously planned heist, an assistant manager at Manappuram Finance in Dabra, Gwalior, replaced Rs 4 crore worth of real gold with fake jewelry. The accused, Vikas Sharma (real name Vikas Kumar), conspired with his father, Maheshchandra, to quickly amass wealth. The stolen gold was secretly transported to Bharatpur, Rajasthan, while fake jewelry purchased from Agra for Rs 30,000 was kept in the branch lockers to avoid suspicion. Police have arrested both father and son and are now investigating traders in Jhansi and Agra who may have purchased stolen gold. Dainik Bhaskar spoke to TI Yashwant Goyal to understand the matter. Read the report… The heist and investigation The case surfaced on September 25, when the branch manager, vigilance team, and other employees reported that 4.38 kilograms of gold in the branch lockers had been replaced with fake jewelry. Following investigation, the police tracked and arrested Vikas Sharma and his father from Bharatpur on September 30. Authorities recovered 4.138 kilograms of gold jewelry and Rs 67,000 in cash from their possession. Motivation behind the crime Vikas, originally from Bharatpur, revealed that both he and his father were financially struggling and eager to become wealthy quickly. Previously, Vikas had attempted a similar theft at the Jhansi branch but failed. Five months ago, he was transferred to the Dabra branch, where he began planning the heist in detail. About 20 days prior to the theft, he involved his father in the conspiracy. During questioning, Vikas admitted to repeatedly traveling to Agra to purchase Bentex fake jewelry worth Rs 30,000. To ensure no suspicion, he placed the fake jewelry in eight boxes and affixed the branch’s security stickers, making them appear genuine. Execution of the theft The heist was carried out on a Sunday, when the branch was closed for a holiday. On September 21, Vikas collected both locker keys and went to the branch. He sent the security guard out for breakfast, disabled CCTV cameras, and in just ten minutes, replaced the real gold in customer lockers with fake jewelry. To avoid being traced, Maheshchandra left his mobile phone at home in Bharatpur. After the theft, Vikas transported the bag filled with stolen gold to Bharatpur using a rented car, leaving his father and wife to deliver it. Anticipating a police raid, they also rented a room to store the gold securely. Selling a portion of the gold The father-son duo sought ways to liquidate the gold. Vikas contacted his brother-in-law in Agra, who helped sell 200 grams of the jewelry. The total estimated market value of the stolen gold exceeds Rs 4 crore. The company suspects other employees, including Chandrabhan Kushwaha, may have been involved. Both Vikas and Kushwaha were handed over to Dabra City Police on September 25 since they had access to the locker keys. Police are continuing questioning to determine the full extent of involvement. Personal background of the accused Vikas Sharma, from the SC category, is addressed as “Sharma Ji” at the Dabra branch. He is married in a love marriage to a Brahmin woman with the surname Dubey. His mother passed away several years ago, and his father remarried, having a nine-year-old son from his second marriage. TI Yashwant Goyal noted that Vikas repeatedly changed his story during police questioning. Upon suspicion, authorities tracked him to Bharatpur and also took his father into custody, who attempted to mislead investigators.