Debashish Dutta was arrested on the basis of a complaint filed by one Shikha Paul that she found the doors of her residence in Dwarka open and jewellery items lying in a briefcase ransacked on May 4, 2012.
Paul, who lives in Vishakapatnam in Andhra Pradesh, had asked Dutta, who is their relative, to take care of their property.
Police interrogated Dutta and maid Dharmwati and finally the software engineer broke down and said he was facing financial hardship owing to huge loss in business.
"He made all out efforts to arrange funds but in vain. One day the complainant rang up and told him that she had forgotten her briefcase containing valuables in Dwarka flat and requested to keep in safe custody. Instead of honouring her words, he succumbed to his temptation and stole jewellery in the briefcase," A K Ojha, Additional Commissioner of Police, South-West District, said.
He searched the potential buyer but the desired amount could not be received and thereafter he decided to have gold loan from Muthoot Gold Finance company, he said.
Dutta told police that he was running a software company at Kakrola and that he incurred huge loss and in order to compensate the loss, he stole the gold jewellery from the flat.
Gold jewellery worth Rs 3 lakh was recovered from his possession.