Pantheerankavu Rs 40 lakh theft case; Rs 39 lakh found buried near accused's house

KOZHIKODE: A big twist happened in the Rs 40 lakh theft case from ESAF Bank employees in Pantheerankavu. Police found Rs 39 lakh buried near the house of Shibin Lal, a native of Pallippuram, Kaimpalam, and the main accused in the case. The police had earlier recovered Rs 1 lakh from the accused.

It was during interrogation that the accused spilt more details about the money. The money was found buried in a plastic cover in a field half a kilometre away from Shibin Lal's house. The police went with the accused and dug up the earth to find the mainour. Shibin earlier told police that he had transferred most of the money to a native of Pantheerankavu. However, this was found to be a baseless statement and one intended to divert the investigation. After receiving a crucial tip-off, the police questioned him again, which brought out the truth.

The incident took place on June 11. Shibin Lal escaped by snatching a black bag containing money from an ESAF Bank employee named Aravind. The incident took place in front of Akshaya Finance on the road leading from Pantheerankavu to Mankavu. Shibin Lal extorted money from the employees by tricking them that the gold pledged at a private money transfer institution could be transferred to ESAF Bank, only if he was immediately provided with Rs 40 lakhs.