Snatched chains get mortgaged
The CCTV footage from an electronic store helped them identify Sai
By : DC Correspondent
Update: 2015-11-02 07:37 GMT
Hyderabad: The manager of a Manappuram Finance branch allowed mortgage of gold brought in by a chain-snatcher, in spite of knowing that they were looted property. B. Venkat Sai, 21, a notorious chain-snatcher arrested on Saturday, confessed to cops that he mortgaged the gold at the Kushaiguda branch of Manappuram Finance and took money from the manager.
Police said the CCTV footage from an electronic store helped them identify Sai, leading to the arrest. Gold ornaments worth around Rs 2.5 lakh and a bike were recovered from him, while a case has been registered against the finance firms branch manager, Ravinder.
Venkat Sai is a native of Nalgonda district. After his father died, he stopped his education at Intermediate level due to financial problems. While his mother worked at a flour mill, he worked as a courier boy. As his income was not sufficient to enjoy life, he starting committing offences like chain-snatching.
He had been arrested thrice by Kushaiguda, Jawaharnagar and Kazipet railway police leading to jail terms. He was released last from Warangal district prison on October 23. “Within a week's time, he committed nearly four chain-snatchings. The CCTVs installed in an electronic store helped us trace him on October 27 in the market area. We could match his identity with the database,” said Malkajgiri DCP Rema Rajeshwari.