Varanasi. In a major breakthrough in an interstate bank robbery case, police and special task force units have arrested three members of a notorious gang involved in the looting of gold and cash worth approximately ₹42 lakh and 4 kilograms of gold from a Bank of Maharashtra branch in Jharkhand. The arrests were made in the Singharpur area under Sarnath in Varanasi, where the accused were allegedly planning to move the loot further after distributing it.
Hazaribagh Heist Trail Reaches Varanasi
According to investigators, the gang had meticulously planned the robbery after conducting surveillance on multiple bank branches across different states. The mastermind of the group, identified as Mohd. Afzal, is believed to have orchestrated several similar robberies over the past decade. His associates include Pankaj Singh, alias Rounak, and Saurabh Yadav, alias Sonu, both of whom played active roles in executing the heist.
The robbery, which took place on April 24 at the Bank of Maharashtra branch in Hazaribagh, involved a highly coordinated operation. The accused reportedly entered the bank posing as customers, and once inside, they overpowered the staff using firearms and physical force. Mobile phones of employees were seized to prevent alarm notifications, and the cash counter was quickly emptied.
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Armed Robbery Planned With Precision
Investigations revealed that the gang used a cutter to disable the bank’s alarm system before forcing open the strong room at gunpoint. Inside, they allegedly looted gold ornaments weighing around 4 kilograms along with ₹42 lakh in cash. After the robbery, the group fled the scene and later regrouped in Bihar before dispersing to different locations.
The investigation further uncovered that the gang had a long criminal history, with previous robberies reported in states such as West Bengal, Uttarakhand, and Uttar Pradesh. These included incidents at financial institutions where large quantities of gold were targeted. Officials believe the group operated in a highly organized manner, using stolen vehicles and fake identities to avoid detection.
Following the arrest, authorities recovered a portion of the stolen property, including approximately 912 grams of gold and ₹20 lakh in cash, along with the vehicle used in the crime. The accused are currently under transit remand and are being interrogated in connection with other similar cases pending in multiple states.
Officials have stated that further investigation is ongoing to trace the wider network behind the racket and identify additional members who may have assisted in laundering the proceeds of the crime. Security agencies are also reviewing similar cases to determine possible links between organized gangs operating across state borders.
Gold and Cash Recovered After Raid
Banking security experts noted that such cases highlight growing misuse of digital banking systems and input tax credit mechanisms under the GST framework. They explained that fraudsters often create shell companies using rented addresses and minimal documentation to gain registration before executing large-scale tax manipulation schemes.
Authorities have intensified surveillance on newly registered firms in high-risk jurisdictions and are cross-verifying GST returns with physical inspection reports to prevent recurrence of such frauds. Special teams are also examining suspicious ITC claims flagged by automated systems to identify patterns of coordinated tax evasion.
Police officials emphasized that the accused used advanced planning, including multiple reconnaissance visits to target bank branches, fake identity proofs, and communication through encrypted channels to avoid detection. They also frequently changed vehicles and hideouts to evade enforcement agencies’ tracking.
Multi-State Syndicate Under Scanner
Authorities stated that the crackdown on this gang sends a strong message against organized financial crimes and reaffirmed their commitment to dismantling such networks operating across state and interstate corridors. The case is expected to proceed to trial after completion of forensic and financial analysis.
Investigators are also coordinating with multiple state police units to map previous cases linked to the accused and recover additional stolen assets. The focus remains on tracing the full financial trail of the syndicate to ensure complete prosecution and asset recovery.
Officials further said that awareness campaigns will be strengthened among businesses to prevent exploitation of GST loopholes and encourage timely reporting of suspicious transactions.
Further action is expected as digital forensic results are compiled in the coming days.
