5 employees of cash-in-transit firm arrested for quoting 'inflated' amount stolen from Bengaluru ATM

Bengaluru: Police have arrested five employees of a cash management firm for inflating the amount of money stolen from an ATM in Bellandur, Southeast Bengaluru, in early July. 

On July 6, a man with his face masked by a muffler entered the Axis Bank ATM on Sarjapur Main Road. Within three minutes, he opened the ATM with a gas cutter and fled with an unspecified amount of money. He was part of a gang that previously targeted four more ATMs in Hassan, Bengaluru and Tamil Nadu. 

Police began an investigation after an employee of AGS Transact Technologies, the cash-in-transit company, filed a complaint, stating that Rs 16 lakh was stolen from the ATM. The company’s subsidiary, Secure Value, is responsible for depositing cash into Axis Bank ATMs in southeastern Bengaluru and maintaining the kiosks. 

After reviewing CCTV footage of the ATM, the police determined that the machine did not contain as much money (Rs 16 lakh) as mentioned in the complaint. This discrepancy suggested that not all of 16 lakh was deposited into the ATM, giving rise to suspicions about the employees of Secure Value, a senior police officer told DH. 

According to the police, the employees attempted to load the money into the ATM on July 1, but were unsuccessful due to a glitch, though a receipt was generated. 

On July 6, when the theft occurred, the gang falsely claimed the ATM contained Rs 16 lakh, but the CCTV footage called their bluff, according to the police. 

The Bellandur police subsequently arrested the five employees — identified as Pawan Kalyan, 28, Dharmendra 52, Raghavendra 36, Mahesh 30, and Pratap. They have recovered Rs 13.5 lakh. 

Police are trying to determine how much money was stolen by the intruder on July 6 and track him down.