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Georgian Police Arrest One in Million-Lira Turkish Gold Theft

March 10 (Bloomberg) -- Georgian police arrested a man they accuse of involvement in the theft of one million liras ($560,000) in gold from northern Turkey.

Police arrested the man along with 400 grams (13 ounces) of gold, which had been melted down, Interior Ministry official Soso Topuridze told reporters in Tbilisi today. Police are searching for other members of the gang and it’s “too early” to consider extradition, he said.

Thieves made off with about 6 kilograms of gold after tunneling into the basement of a jewelry shop in the Turkish city of Ordu, about 350 kilometers (220 miles) west of the Georgian border, local police chief Hakan Kirmaci said in a statement carried by Turkish state news agency Anatolia March 6. The group had spent three days digging, he said.

To contact the reporters on this story: Helena Bedwell in Tbilisi at hbedwell@bloomberg.net; Steve Bryant in Ankara at sbryant5@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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