Surat Safe Vault Owners Arrested for Allegedly Stealing ₹2.6 Crore Worth of Gold, Cash from Customers' Lockers

A trusted safe deposit facility in Gujarat's Surat has landed at the centre of a major criminal investigation after police arrested three owners of a private vault for allegedly stealing gold jewellery, cash and other valuables worth ₹2.6 crore from customers' lockers. Investigators say the accused secretly accessed lockers using duplicate keys and diverted the stolen assets to cover mounting losses in the stock market.

Three vault owners arrested

The accused have been identified as Mahesh Deora, Harsh Deora and Harikrishna Deora, owners of Nakshatra Safe House, a private safety vault operating in Surat.

According to police, the trio allegedly removed valuables from several customer lockers without the knowledge of the locker holders. The stolen property is estimated to be worth around ₹2.6 crore.

The arrests followed multiple complaints from customers who discovered that their jewellery and cash had disappeared despite there being no signs of forced entry.

Duplicate keys used to access lockers

The investigation revealed that the accused allegedly created or retained duplicate keys to customers' lockers, allowing them to access the vaults discreetly.

Police said the thefts were carried out over a period of time, making it difficult for customers to immediately detect that valuables had gone missing.

Investigators believe the accused selectively targeted lockers containing high-value gold ornaments and cash while attempting to avoid raising suspicion.

Stock market losses behind the crime, police suspect

According to the police investigation, the three accused are suspected of using the stolen valuables to offset heavy losses suffered in the stock market.

Officials said financial distress appears to have been the primary motive behind the alleged thefts. Investigators are examining financial records and transactions to trace how the stolen assets were disposed of and whether others were involved.

Probe widens as police verify more lockers

The case is being investigated by Surat Police, which is also verifying whether additional locker holders may have been affected.

Officers are examining records maintained by the private vault and matching them with customer complaints to determine the full extent of the alleged fraud.

Police have urged customers of the facility to report any discrepancies in their lockers as the investigation continues.