Serial robberies are indicating that the security failures of popular finance company in the state. Ramachandrapuram branch of Muthoot Finance has been looted in the capital city Hyderabad. Five armed thiefs came to the Mothoot Fincorp office in a red Scorpio and forced their way into the office.
They smashed the CC TV cameras and snatched away gold worth Rs 10 crore and made good their escape. The gang members wore masks and spoke in Hindi. The police rushed to the spot and are questioning the Muthoot staff. Earlier in Tamil Nadu, Rs 5.5 kg gold stolen from Muthoot Fincorp in Salem on August 16, 2016. In Gujarat Rs 90 lakh was looted from Muthoot Finance branch at Dhoraji on December 26, 2016. Even before in 2015, Gold worth of Rs 3 crore looted from Muthoot office in Patiala, Punjab. Similarly, armed gang robs 8.5 kg gold from Mango-Azadnagar Road branch of Muthoot Finance in Jharkhand.