Wandoor, Malappuram: A 56-year-old man was arrested in connection with stealing silver jewellery worth ₹19 lakh and cash amounting to ₹10,000 from Tharangini Silver Jewellery here on Friday.

The accused, Jose Mathew, alias Erumad Jose, was arrested by the Special Investigation Team (SIT) in Kalamassery.

A native of Erumad in Gudalur, Jose is an alleged interstate thief and was taken into custody following an SIT-led investigation.

The accused allegedly broke into the jewellery shop on May 20 by breaching its rear wall and stole more than seven kilograms of silver ornaments.

Police identified the suspect after examining CCTV footage from the shop and surveillance cameras installed at various locations. The investigation was carried out by a special team constituted under the leadership of Malappuram District Police Chief Chaithra Teresa John and supervised by Nilambur Deputy Superintendent of Police (DySP) VK Vishwambharan Nair. Acting on a tip-off about the accused's whereabouts in Kalamassery, a team led by Wandoor Inspector Nitheesh arrested him.

Police said the accused had been leading a lavish lifestyle with money obtained from selling the stolen jewellery in Coimbatore and Salem.

Jose is also an accused in nearly 150 theft cases across Tamil Nadu and the Kerala districts of Ernakulam, Malappuram and Kozhikode. Police said he will be taken into custody for further investigation.

Lavish lifestyle; ₹70 lakh invested in the stock market

Police said Jose Mathew invested the money earned from selling the jewellery stolen from Tharangini Silver Jewellery, along with proceeds from previous thefts, in the stock market. Investigators have found that he had invested nearly ₹70 lakh.

Police will be examining his bank accounts, other investment records and financial transactions as part of the ongoing investigation.

The accused used the proceeds from the thefts to fund a lavish lifestyle. He allegedly stayed at luxury hotels, availed himself of spa services, and spent on expensive liquor, high-end mobile phones and branded clothing.

Arrested while allegedly planning another theft

Jose Mathew was arrested while allegedly planning a robbery at a prominent jewellery shop in North Paravur. Several weapons were recovered from his possession.

He arrived in Wandoor on May 15 to commit the theft and stayed on top of an unoccupied building. The burglary at the jewellery shop was allegedly carried out at around 1 am on May 20.

After selling the stolen jewellery, the accused checked into a lodge in Kalamassery. Police said he gained the lodge staff's trust by posing as a fisheries and agriculture officer.