Bhavya Haren Desai aged 26 employed with MG Automotives (Bus & Coach) Pvt.Ltd has been arrested by the CEN police Belagavi for serious fraud committed in the company to the tune of Rs. 4.41 crores.
10 days of police custody has been given by the court when he was produced in the court on Tuesday.
Desai was the financial controller and assistant general manager of the Desur company and he created some false payment records and siphoned off Rs. 4.41 crores through RTGS and transferred the amount to his friends and relatives and made entries in the books of accounts as payments made to vendors.
Desai was absconding and was trying to flee to Sharjah from Mumbai when he was apprehended by the CEN team at the airport.
The CEN team led by BR Gaddekar investigated the matter and arrested the culprit.
The accounts of the accused have been frozen and a sum of Rs. 2.65 crore has been seized.
The police are still investigating the matter and trying to ascertain how he managed to siphon off the money.
The company in a public notice issued states, his acts of siphoning and routing of illegal money is presently under investigation in FIR No.30/2022 date 12.03.2022 filed with CEN Belagavi Police Station, KARNATAKA, wherein he, his wife, other family members including his accomplices in crime are being investigated for prosecution. He is presently absconding after his criminal acts surfaced. Action to dismiss him from employment according to law is under process. He is suspected to be having some of our Company’s properties, credentials including IP material still in his possession and he might still make unlawful use of it for wrongful gains both personally or through his accomplices.
Leave a Reply