Mumbai:
A former employee in a private firm was arrested by the Samtanagar Police for allegedly misusing his former company’s bank credentials to siphon off Rs 8.69 crore.
Jaiprakash Basantilal Sodani worked as a senior accounts manager at this company and resigned three years ago. After the incident came to light, the accused absconded until the police found him about a month and a half later. He is currently in police custody and is being interrogated.
His wife and several other bank account holders have also been named as accomplices to the crime and the police are currently on the lookout for them.
Details of the Case:
Sodani was associated with the firm as a senior accounts manager from September 21, 2019 to May 25, 2022. By dint of his position, Sodani was had full access to the company’s accounts including bank details.
After Sodani resigned in May 2022, a common meeting of all the associated companies was held in October, where declining profits-related concerns were raised. They together decided to run a complete audit of the company and the responsibility of the same was handed to Vipin Varkhawat who had been the account batch head of the company for the last 13 years.
While investigating bills and the company’s bank account details, Varkhawat discovered several online transactions amounting to crores. These huge sums of money were transferred to a single account, but as payments to different firms. It was later discovered that the account belonged to Sodani. He allegedly first transferred the fund to his own account and then would transfer them to his wife’s and bank accounts of other individuals.
Following Varkhawat's complain, the police registered a case of cheating and criminal breach of trust. Sodani absconded after finding out about the case, but was traced by the police within six weeks.
During interrogation, Sodani admitted to misusing the company’s bank account details after he resigned. Furthermore, he admitted to registering his personal mobile number with the company’s bank account so that he would receive transaction alerts.
Police discovered that some of the amount was used to purchase a Rs 1.31 crore property in Rajasthan and the property was later transferred to the company’s name. Moreover, Rs. 17.90 lakh was deposited back into the company’s account.
He was taken to the Borivali local court, which sent him back into police custody. Further investigations to find his wife and other bank account holders are currently underway.
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