4 held over rs 7-cr fraud in pharma firm

The Vashi police arrested four people including the director of a company on charges of committing fraud of Rs 7 crore in the company.

The Vashi police arrested four people including the director of a company on charges of committing fraud of Rs 7 crore in the company.

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The prime accused is Dr Rajaram Sawant, director of Oneberry Pharmaceuticals, at BSEL Tower at Sector 30A in Vashi. The others are Tushar Patil, Chandramohan Negi and Mehul Shah.

In his complaint to the police, Dominic D’Souza, the company’s general manager, alleged that Sawant along with the other accused had committed fraud.

The investigating Police Officer Rajkumar Chafekar of Vashi police station said: “The complainant alleged that Sawant started a new company on the sly in which his supplier Mehul Shah was a partner. Sawant’s wife is reportedly a director in the new company.”

“The complaint is that the director who was privy to confidential information of Oneberry Pharmaceuticals including its products and marketing plans, passed on the information to the new company with the help of his associates. The new company used it to its own advantage.”

Chafekar added: “Sawant is also accused of misleading the company’s clients and misappropriating funds.” The accused have been remanded to police custody till May 26.