As the saying goes, 'As you sow, so shall you reap.' Recently, a man faced the grim consequences of this proverb. In a dramatic turn of events, an accounts officer at a private company in Mumbai found himself entangled in a fraud. This individual has been accused of embezzling INR 1.08 crores.
The aftermath was even more disastrous when he invested all the money in an insurance scheme—which, unknown to him, turned out to be a cyber scam. This information was revealed through media reports.
The individual had been employed at Jain Electric and Mechanic Works since 1992. Accused of embezzling INR 1.08 crores, he ultimately fell victim to a cyber scam.
Trusted by the company's owners and board members for nearly three decades, he had earned the authority to handle OTP-based banking transactions.
Source: aajtak
According to the police chargesheet, the accused conducted multiple transactions from the company's bank account, withdrawing a total of INR 1.08 crores.
The forensic audit report revealed a fraud of INR 1.08 crores that occurred between 2016 and 2023.
The police shared that the arrested individual has confessed to his crimes. Furthermore, he disclosed being contacted by four individuals in 2021 who promised to double his money, leading him to invest the company's funds in their scheme. The withdrawn amounts were labeled as different payments, including income tax and GST.
