Man arrested for embezzling silver worth Rs 1.77 crore

PTI, Feb 5, 2022, 8:42 AM IST

Mumbai: A 34-year-old man has been arrested from Kanpur in Uttar Pradesh for allegedly stealing 254 kg of silver worth Rs 1.77 crore belonging to a city-based jeweler, police said here on Friday.

Yashwant Hardeo Acharya, the accused, was arrested by a team of V P Road police station here last month, said an official. A city-based jeweler had alleged that he had given 254 kg of silver and Rs 10 lakh in cash to Acharya for safekeeping, but the latter tried to sell it off.

A case under IPC section 409 (criminal breach of trust) was registered on the jeweler’s complaint. Police recovered 78 kg of silver from the accused’s possession while he had allegedly sold off some silver, an official said, adding that further probe is on.