Reebok fraud: police raid four ‘secret’ godowns | india | Hindustan Times
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Reebok fraud: police raid four ‘secret’ godowns

india Updated: Jun 05, 2012 00:19 IST
HT Correspondent
HT Correspondent
Hindustan Times
Highlight Story

The city police on Monday raided four warehouses allegedly being run by former Reebok India managing director Subhinder Singh Prem and COO Vishnu Bhagat.

The two were booked on May 21 for allegedly fudging company accounts and operating secret warehouses, causing a loss to the tune of over Rs 870 crore to the company.

DCP (crime) Maheshwar Dayal said the police also raided the residences of the two former Reebok employees at Greater Kailash in Delhi and Green Wood City in Gurgaon, but could not find them. Four teams of the special investigation team (SIT) raided the warehouses through the day and seized shoes, sunglasses and apparels worth crores.

“We raided two warehouses in Vasant Vihar and one each in Bijwasan and Palam Vihar. We seized computers and important documents like the goods delivery reports and challans from the site. We have hired chartered accountants to study the balance sheets,” Dayal said.

Cases were registered against Prem and Bhagat at Gurgaon’s Sector 40 police station after an internal investigation by the company’s director of finance Shahin Padath.