Man arrested for duping his companyMarch 3rd, 2009 - 10:36 pm ICT by IANS
New Delhi, March 3 (IANS) The police Tuesday said they have arrested an employee of a money exchange firm who embezzled over Rs.10 million from his company.
Amit Kumar worked at a money changer firm at the World Trade Centre in Connaught Place and had a large amount of money at his disposal for long periods of time, the police said.
“He floated this money around and got interest on short term lending. When the initial embezzlement went undetected, he started taking out more cash and fudging his bills to match the records,” Additional Commissioner of Police Satyendra Garg said.
“He started splurging money on a lavish lifestyle. He took to gambling and lost a large amount of this embezzled money. The money shelled out by him on short term lending on a high interest rate has been traced,” Garg said.
A case of cheating has been registered against him.