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Delhi Man Suffers Huge Losses in IPL Betting, Steals 25 Kg Gold from Employer to Pay Debt

The accused told police he was fond of gambling and suffered huge losses in IPL betting. To recoup the losses, he contacted a man who was engaged in melting gold ornaments.


Updated:October 8, 2019, 8:22 AM IST
Delhi Man Suffers Huge Losses in IPL Betting, Steals 25 Kg Gold from Employer to Pay Debt
Representative image.

New Delhi: A 30-year-old man was arrested along with his two accomplices for allegedly stealing over 25 kg gold from his employer after he lost money on IPL betting, police said on Monday.

The accused were identified as Bharat Nathmal Soni, Sachin Shinde (39), residents of West Vinod Nagar in Delhi and Shravan (39), a resident of Sirohi district in Rajasthan, they said.

One complainant reported that Soni was working as in-charge of head office of his company at Karol Bagh and he used to carry gold jewellery from head office to branch office in Chandni Chowk, but he did not deposit complete jewellery at the head office. When the complainant learnt about it, Soni went absconding.

"During investigation, it was learnt that Soni was frequently changing his location across the country. On September 25, he was arrested from Rajasthan and on his instance, Shinde and Shravan were also arrested from Delhi and Rajasthan respectively," said Mandeep Singh Randhawa, Deputy Commissioner of Police (Central).

“During interrogation, Soni disclosed that he used to carry jewellery items from head office to branch office and sell these jewellery items to different jewellers,” the DCP said.

In return, he had to deposit melted gold or cash to the head office. He also disclosed that he was fond of gambling and during IPL, he suffered huge losses and to recoup the losses, he contacted Shinde who was engaged in melting gold ornaments, police said.

They hatched a plan to melt the jewellery into gold metal and before depositing the gold metal or jewellery to the head office, they used to steal some quantity on the pretext that the customer will return it in some days, the DCP said.

They misappropriated gold jewellery to the tune of 25.731 kilogram out of which, Soni gave some quantity to his brother-in-law Shravan. They sold the gold jewellery to their relatives and other persons. A huge amount of gold was recovered from their possession, police said, adding that efforts are being made to recover the remaining gold.

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