Mumbai couple arrested for diverting firm’s money into their accounts

The couple is accused of diverting money into their seven personal accounts. Investigators said the man also allegedly diverted funds to some other individuals

The Mumbai Police’s Economic Offences Wing (EOW) has arrested a couple, who worked as assistant managers with United India Insurance Company, for allegedly siphoning off ₹120 crore over the years.

Representational image.

Initially, the fraud money reported in first information report (FIR) was ₹8.09 crore, but later during EOW’s probe it was revealed that the accused couple siphoned off over ₹120 crore from the company’s account.

The main accused, Khushel Singh, looked after the accounts of the company’s corporate cell. His wife has been identified as Neelam Singh.

The couple is accused of diverting money into their seven personal accounts. Investigators said Singh also allegedly diverted funds to some other individuals. An officer said details of these people were being obtained and the fraud amount may go up.

“We are also checking how Singh managed to dodge the audit system of the company to ensure the unauthorised transactions went undetected,” said the officer, requesting anonymity.