Four arrested for stealing Palladium worth Rs 1.15 crore

In a major breakthrough, police have solved the case involving the theft of valuable palladium metal powder, worth Rs 1.15 crore, from a Ravindra Heraeus Private Limited, a pharmaceutical company in Paravada, Visakhapatnam. Four individuals, all employees of the company, have been arrested in connection with the crime. The stolen metal powder, used in the production of carbon catalysts, has been recovered.

During a press conference held on 16 October 2024, SP M Deepika provided details about the investigation. The theft occurred on 9 October at the Ravindra Hireus Company. The company had placed 4.2 kg of palladium powder in a dryer in the production block for overnight drying, which was secured and locked. The next morning, the company discovered the powder was missing.

Following the complaint lodged by company representative on 12 October, the police launched a thorough investigation. It was revealed that the suspects, all of whom worked for the company, had scaled the plant wall at night, unlocked the production block, and stolen the palladium.

The accused—Chintakayala Raju, Vineeth Verma, Chintakayala Murali, and Ramachandra Raju—inovolved in the theft of the Palladium metal in Visakhapatnam were arrested on 15 October at the Thanam crematorium. The police recovered the stolen powder from them.

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