NEW DELHI: Delhi Police’s Economic Offences Wing has arrested a chartered accountant for allegedly diverting Rs 27.3 crore from his employer’s account to his personal account.
Police said the accused has been identified as Kamal Kumar who worked as the general manager (finance) at a law firm.
The cops began an investigation after receiving a complaint from the firm, J Sagar associates, informing about the alleged fraud. The firm’s partners claimed that the accused had made several bogus or forged entries in firms’ accounting software and these transactions were made on the false pretext of payments for taxes of certain clients.
“After a preliminary enquiry, a case was registered. The probe revealed that during the Covid pandemic, the accused Kumar diverted Rs 27.28 crore in his personal bank account and misappropriated these funds during last one and half year. It was also revealed that accused had invested this money in share market and booked losses in option trading,” additional commissioner R K Singh said.
After his role was confirmed, a team led by DCP K Ramesh was formed to apprehend the accused. The suspect was nabbed using technical surveillance and intelligence inputs and taken on remand for interrogation.
“Kumar created bogus entries in the accounting software of his employer either though himself or through his subordinates. Being competent to authorize the approvals for the payments up to Rs 1.5 lakh, he approved more than 2,300 entries in last one and half year. He diverted the funds of the firm into his personal bank account on the pretext of withholding tax payments on behalf of clients or stamp duty payments,” the EOW official said.
Kumar, cops said, was a qualified CA (Charted Accountant) and was working with the complainant firm as general manager at a monthly salary of Rs 4.5 lakh.
Further investigation with regard to the roles of other accomplices, if any, is in progress. “The companies, firms and other entities having heavy financial flows in day to day dealings are hereby cautioned to keep a close watch on the transactions and the employees authorised in this regard through regular internal audits and thus not allowing development of autonomous power centers,” the EOW official appealed.
