75-year-old arrested for siphoning off 1.14-cr from Somaiya Trust members

Published on Sep 22, 2022 09:10 PM IST

The Gamdevi police officials said the accused would forge the elderly woman’s signature on the cheques and transfer money to the bank accounts of his family members

During the interrogation, Shah claimed that since he had borrowed money from some friends and relatives, in order to return their money, he allegedly siphoned off the money from his employer’s bank accounts and gave it to them. (StockPic)
During the interrogation, Shah claimed that since he had borrowed money from some friends and relatives, in order to return their money, he allegedly siphoned off the money from his employer’s bank accounts and gave it to them. (StockPic)
ByVijay Kumar Yadav

Mumbai: 75-year-old manager of Somaiya Group has been arrested for allegedly siphoning off 1.14 crore in the past three years from the bank account of the 92-year-old aunt of the group’s owner Samir Somaiya.

The Gamdevi police officials said the accused would forge the elderly woman’s signature on the cheques and transfer money to the bank accounts of his family members.

The accused, Bhupendra Shah, a resident of Kandivali has been working as a manager in the Somaiya Group for the past 40 years. He was entrusted with the responsibility of maintaining the bank accounts of Samir Somaiya and his family members, including Samir Somaiya’s aunt Leelaben Kotak, who is a trustee of KJ Somaiya Trust.

While the second accused Angadprasad Chaurasiya, who is still wanted in the case, was employed as a house help at Kotak’s Pedder Road residence.

The complainant in the case Rajeev Rathod, the manager in the administration department of the Somaiya Group, has told the police that on February 4 this year, he observed that Shah and the company’s driver Nagesh Gauda visited Kotak’s Peddar Road house to meet her without any work.

Suspicious Rathod then checked the statement of Kotak’s bank accounts on February 14, and discovered that 1.14 crore had been withdrawn from her account using self-cheques in the past three years, a police officer said.

The fraudulently obtained money was deposited in the bank account of Chaurasiya and also in the account of Shah’s family members and relatives, the officer added. The two accused also illegally transferred the funds during the lockdown period.

“During the interrogation, Shah claimed that since he had borrowed money from some friends and relatives, in order to return their money, he allegedly siphoned off the money from his employer’s bank accounts and gave it to them. However, he is not disclosing the names of the friends and relatives,” another officer of the Gamdevi police station said.

Shah has also used forged and duplicate signatures to transfer money to some of his relative’s bank accounts. Police suspect that Shah’s son is also involved in the crime and named him as an accused in the case. He has however moved to the high court for anticipatory bail in the case. His plea is pending before the court, the second officer added.

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