Man held for Rs 1.5 cr fraud | delhi | Hindustan Times
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Man held for Rs 1.5 cr fraud

delhi Updated: Mar 04, 2009 00:05 IST
HT Correspondent

The Crime Branch has arrested a man working with a moneychanger firm for embezzling Rs 1.5 crore from the company where he used to work.

Amit Kumar (29), resident of north Delhi's Kingsway Camp, was working at a money exchange firm in World Trade Center in Connaught Place. He was arrested following a complaint filed by the company.

Additional Commissioner (Crime) Satyendra Garg said, “He was employed as a senior executive. He allegedly used to float the firm’s money in short-term lending which was under him for over a period of time.”

Kumar started embezzling after his initial act went unnoticed. When he tried to splurge, he was under scanner.

After receiving a complaint, a police team arrested Kumar from his residence on February 27. The accused was sent to a three-day police remand after he admitted his involvement in laundering.