In a significant breakthrough, the Eluru district police have successfully cracked a high-value theft case involving approximately four and a half kilograms of gold, valued at around Rs 7 crore, from a private gold loan firm. The stolen property has been fully recovered from the accused, who has been taken into custody.
Details of the Gold Theft Incident
The incident unfolded at the Chintalapudi branch of Kanakadurga Gold Finance. On September 2025, at about 11:00 am, auditor Vadlamudi Uma Mahesh arrived from the head office to conduct an audit. In a clear violation of company protocols, he removed all gold ornaments from the lockers and proceeded with the audit until the afternoon.
How the Heist Was Executed
Later in the evening, when branch manager Praveen stepped out, the accused seized the opportunity. He sent the cashier, Asha Sri, away under the pretext of fetching coconut water. Taking advantage of the unsupervised environment, he packed 4.490 kg of gold ornaments, contained in 378 packets, into a bag he had brought with him and fled the scene. The market value of the stolen gold is estimated to be approximately Rs 7 crore, highlighting the severity of the crime.
Police Investigation and Arrest
Under the supervision of Eluru Superintendent of Police K P S Kishore, and with guidance from ASP R Sushmita and In-charge DSP Sri U Ravi Chandra, a special investigation team was formed. Led by T. Kranthi Kumar, Inspector of Police for the Chintalapudi Circle, the team conducted a thorough probe with assistance from the Eluru District Cyber Cell and IT Core Team.
Their efforts culminated in the arrest of the accused, Vadlamudi Uma Mahesh, an audit executive at Kanakadurga Finance and a resident of Naidupeta in Nellore District. The arrest was made on January 28, and the police successfully recovered the entire stolen property. A total of 4.484 kg of gold ornaments was retrieved from him, marking a complete recovery in this high-stakes case.
Implications and Broader Context
This case underscores the critical role of internal audits and security measures in financial institutions. The arrest of an auditor, a trusted employee, raises concerns about insider threats and the need for stringent oversight in gold loan firms. The Eluru police's swift action and use of cyber and IT resources demonstrate effective law enforcement in tackling sophisticated crimes.
