The kingpin of a seven-member gang allegedly involved in the Rs 4.54 crore heist at a gramin bank in Kasaragod district on June 18 was on Saturday arrested and a part of the stolen gold and cash recovered from him.
Krishnamurthy (26), a native of Tamil Nadu, was arrested here based on clues from small-time gold merchants with whom he had established contacts to dispose of the stolen jewels, Additional DGP Mahesh Kumar Singala told reporters here.
The gang had struck at the North Malabar Gramin Bank's Periye branch near Kanhangad and decamped with pledged gold ornaments weighing 33 kg worth about Rs 4.47 crore and cash to the tune of 6.74 lakh.
Police recovered 1.182 kg of gold and cash amounting to Rs four lakhs from Krishnamurthy, he said.
Police would soon arrest the other members of the gang, IGP (North), Tomin Thachankary told reporters.
