Jai Prakash (28), the brother of Sanjay Arya, had stolen the card and along with his two aides Sandeep Arya (28) and Naveen Suyal (20) bought gold coins worth Rs 1.33 lakh from Janakpuri area in west Delhi.
The trio also made a purchase of Rs 1.60 lakh through online shopping, they said.
They also made a fake driving licence and changed the mobile number associated with the card to make transactions from it, police said, adding that a case has been registered against them in this regard.
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