Inside job: Bank manager among others accused of stealing gold

Three officials of a National Bank branch were allegedly swiping gold for the past seven months.


Muhammad Shoaib November 08, 2013
During investigation, cashier confessed he stole the gold, adding bank manager Ziaullah and cashier Abdul Hameed were also party to the crime. PHOTO: FILE

SWABI: Three bank officials along with two jewellers were arrested for their alleged involvement in theft of gold worth around Rs15 million from National Bank’s Thanda Koi Branch in Swabi on Friday.

Speaking to journalists at a news conference at Swabi Press Club, DPO Sajad Khan said National Bank Thanda Koi Branch Manager Ziaullah Shah came to the police station on Thursday evening and informed them a huge quantity of gold had been stolen from the bank. He added the gold belonged to people who had deposited it in the bank as surety against loans. Out of a total of 167 bags, the manager said 62 were missing.

Police then kept the manager at the police station while they dispatched a team headed by SHO Zaida police Qaiser Khan to raid the house of the bank’s cleaner, Sahil Muhammad. During the raid, Rs768,000 was recovered from Muhammad’s house after which he was taken into custody.

During investigation, Muhammad confessed he stole the gold, adding bank manager Ziaullah and cashier Abdul Hameed were also party to the crime. Muhammad told the police he had sold the gold to two jewellers in Swabi, after which police raided their shops in Totalai and Khunda areas and arrested the accused, Ashiq and Yasir. The jewellers revealed they bought the gold from Muhammad for cheaper rates than the original market price.

Muhammad said he and his accomplices have been swiping gold from the bank since the past seven months as the manager had the key to the lockers. Initial police reports revealed around Rs15 million worth of gold had been stolen from the bank during this timeframe.

After the incident, National Bank Regional Senior Vice President Waseem Akhtar, Vice President GM Operations Asghar Ali, Vice President Business Habibullah Khan, Vice President GM Audit Saeed Ahmad Khan and other officials visited the bank and seized the remaining gold. They have now started the process of weighing the gold to confirm how much of it has been stolen.

DPO Khan added they managed to arrest the manager, cashier, cleaner along with two jewellers while the security contractor of the bank, Sajad, a resident of Mardan, had left for UAE a day before the incident. Further investigation into the case is underway.

Published in The Express Tribune, November 9th,2013.

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