Jammu: Crime branch recovers ₹1.10-cr embezelled funds of car dealership

Earlier on July 19, 2022, a case under sections 420, 406, 408 and 109 of the Indian Penal Code was registered at Channi Himmat police station on a written complaint by the executive director of JVPL.

The Jammu and Kashmir police crime branch recovered misappropriated funds amounting to ₹1.10 crore from an ex-employee of Jamkash Vehicleads Pvt Ltd (JVPL) on Tuesday.

With the recovery, the missing amount of JVPL has been recovered in its entirety and a further investigation is being carried on. (Bloomberg)

“The accused, identified as Sheraz Mir of Shanti Nagar, Janipur, was arrested and about ₹22 lakh was recovered from him. A preliminary chargesheet against the accused was also presented by the police in a court,” said officials.

Earlier on July 19, 2022, a case under sections 420, 406, 408 and 109 of the Indian Penal Code was registered at Channi Himmat police station on a written complaint by the executive director of JVPL.

The complainant had accused Mir, who was at the time working as an accountant at JVPL, of transferring ₹1.32 crore in his bank accounts.

“SSP crime Benam Tosh had deputed a team of officers to Indore and Delhi. During an investigation, the team succeeded in recovering the embezzled funds which the accused used for placing online bets,” said the officials.

With the recovery, the missing amount of JVPL has been recovered in its entirety and a further investigation is being carried on.