Ahmedabad: In a major breakthrough, police have apprehended the main accused in the sensational ₹8.70 crore heist at the Kalupur branch of the Bank of Baroda in Ahmedabad. The prime suspect has been identified as Harshit Kadiya, an employee of the bank, who orchestrated the massive theft in collusion with a father-son contractor duo.

The “Scrap” Modus Operandi

The meticulously planned heist took place on the night of May 13th. According to authorities, the stolen funds were originally part of a cash consignment destined for Rajkot. Harshit managed to siphon off ₹8.70 crore from this consignment, concealing the massive amount of cash inside iron boxes.

To move the money out of the heavily guarded bank, he informed the bank manager and the labor contractors present that the boxes merely contained scrap material meant to be sold. Under this guise, he successfully transported the cash boxes out of the premises and took them to his residence between 8:30 PM and 9:00 PM.

Escape and Arrest

Anticipating the fallout, Harshit went on leave and switched off his mobile phone, fleeing before an official police complaint could even be registered. However, his run ended when the Sola Police arrested him near Sola, successfully recovering ₹2.20 crore in cash from his possession.

The police have also detained his accomplices—contractor Zulfikar Ansari and his son Sultan Ansari—who assisted in moving the boxes out of the bank.

Where Did the Money Go?

Investigations into the stolen funds revealed that Harshit rapidly spent and invested the proceeds of the crime. Authorities discovered that he purchased a house, a shop, and a ‘Chhota Hathi’ (light commercial vehicle) using the stolen money.

Furthermore, the accused ventured into digital assets, using the stolen cash for cryptocurrency trading. Police uncovered a crypto wallet named “Vinash” belonging to him. It also came to light that he generously distributed some of the loot, giving ₹23 lakh to a female bank colleague named Vaishali to help her purchase a house.

Asset Seizure Under New Laws

Authorities have initiated strict legal proceedings to confiscate Harshit’s physical and digital assets. Citing the newly implemented legal framework, police officials stated that any properties or items purchased using the proceeds of a crime are directly liable to be attached.

The police will submit a detailed report to the court regarding these investments. Upon receiving the court’s order, all associated properties—including the newly bought house, shop, vehicle, and the ₹23 lakh given to his colleague—will be officially attached and confiscated.