Police arrested five persons accused of assaulting a man, Tirupathi of Tekulapally mandal, robbing gold and cash from him on July 1 at Anishettypalli in the district.
The robbers entered into the battery manufacturing factory and threatened the watchman with knives. The gang then gained entry into the factory and made off with Rs. 50 lakh cash that was kept in the drawer.
Upon receiving information, the police reached the bank, verified the CCTV footage, and registered a case. Deputy Superintendent of Police Ravi Manohar Chary said teams have been formed to nab the robber.
Police said that the suspects used to extort money from the victims by threatening to make their videos viral on social media platforms, if they fail to pay money.
The robbers, wearing helmets, arrived on a motorcycle at Shriram Jewellery shop in Samaypur Badli area, where they brandished their firearms and threatened the staff before escaping with their loot.
SP Mirzapur Abhinandan said when a cash van of Axis Bank arrived at the bank around 1 pm and one of the employees collected a cash box, four persons riding on two motorbikes snatched the box from him and tried to flee