Two employees of a cash management agency surrendered to the management, accepting that they have syphoned of ₹80 lakh over the last two years while tasked with replenishing money at ATMs.
However, it was revealed during an audit that ₹1.37 crore was missing.
The Bhongir police have booked a case and are investigating.
Bhongir police inspector S. Sudheer Krishna said that they arrested P. Ramu, 30, and M. Nagesh, 31, following a complaint from the management. “As per their statements, they said that as their company is being acquired by another firm, which might conduct an overall audit, they thought it’s better to confess and asked for time to repay the embezzled amount rather than being caught during the audit,” said the official.
Officials seized an SUV purchased by Nagesh with the stolen money and a total of ₹5 lakh in cash from the duo. The duo, both married and living with their families, have not made any big purchases with the money to avoid attention, but had a good standard of living. It was also revealed that they had gone on family vacations and paid off debts with the stolen cash.
“They were working for the firm for the last two years and used to pocket ₹80,000 to ₹1 lakh during their trips to ATMs. They would show on the record that they have deposited the full cash and those numbers would go into the official log,” explained the official.
However, after it was announced that their company was acquired by another firm which will conduct an audit to tally the amount, they came clean to the management about their skimming. Based on a complaint from their management, the Bhongir police registered a case and started a probe.
