How the Canara Bank Gold Heist of 59kg Was Pulled Off Using Black Magic and a Fake Key

In a major security breach, a Canara Bank branch in Managuli Town of Karnataka’s Vijayapura district was targeted by unidentified robbers who stole nearly 59 kg of pledged gold and ₹5.2 lakh in cash. This incident is being regarded as one of the most meticulously planned and high-value bank robberies in the country.

How Canara Bank Gold Heist Was Pulled Off 

The robbery came to light on Monday morning, May 26, when a part-time cleaning staff member discovered the broken lock on the shutter and alerted the bank manager. The bank had been closed since Saturday, May 24, for the weekend, giving the robbers enough time to carry out their plan undisturbed.

According to the police, the group of 6 to 8 robbers used a fake key to access a specific locker that contained the pledged gold. In a calculated move, they disabled the bank’s alarm system and left another locker untouched, indicating inside knowledge of the bank’s internal arrangements.

Gold Belonged to Loan Customers Across Districts

The stolen 59 kg of gold was pledged by customers from various districts, including Hernal and Hubballi, to avail of gold loans. According to Canara Bank sources, the total gold and cash stored at the branch at the time amounted to nearly ₹53 crore and ₹7 lakh, respectively. This loss has raised serious concerns among customers regarding the bank’s security infrastructure.

Black Magic Doll Placed at Scene to Mislead Investigation

Adding an unusual twist to the case, police found a black-coloured doll at the scene near a broken window. Investigators believe it was placed deliberately as a diversionary tactic to imply black magic involvement and mislead or delay the investigation process, as per news reports.

According to police sources, this act was likely intended to confuse officials and draw attention away from the real motives and method of the crime.

Read More: Dubai Brokerage Firm Disappears Overnight; Indian Investors Among Victims of Alleged Scam.

Police Investigation Underway with Multiple Teams Formed

The Vijayapura Superintendent of Police, Lakshman Nimbargi, confirmed that a formal complaint had been filed and that eight specialised teams have been formed to handle different angles of the investigation. The authorities have expressed confidence that the robbers will be identified and apprehended soon.

Customers Blame Canara Bank for Lapse in Security

Shivana Gowda, a customer of the Canara Bank branch, stated that the fault lies with the bank’s poor security measures and not with the customers. Many patrons had trusted the branch with their valuables for gold loans, and the bank’s failure to prevent such a significant heist has sparked concern among the public.

A Reminder of the Need for Robust Security Measures

This gold robbery at Canara Bank is a stark reminder of how even well-established public sector banks can fall victim to organised crime when security protocols are not adequately enforced. While the investigation is ongoing, the incident has shaken customer confidence and triggered a discussion about the responsibility banks carry when safeguarding pledged assets.

Conclusion

The Canara Bank gold robbery in Karnataka, involving 59 kg of pledged gold and ₹5.2 lakh in cash, highlights a major security lapse. With fake keys, disabled alarms, and a black magic ruse, the heist was meticulously planned. Police investigations are ongoing, and customer concerns over bank safety continue to rise.

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