Online Fraud in Mumbai: Accountant Cheats Office of Rs One Crore, Loses It All in ‘Double Your Money’ Scheme; Probe Launched
In a twist of fate, a trusted accountant who allegedly embezzled Rs 1.08 crore from his company’s account, lost the entire amount in a fraudulent “double your money” scheme in Mumbai. Sudhir Mapuskar, the accused, had been employed with Zaina Electric and Mechanic Work since 1992.
Mumbai, April 10: In a twist of fate, a trusted accountant who allegedly embezzled Rs 1.08 crore from his company’s account, lost the entire amount in a fraudulent “double your money” scheme in Mumbai. Sudhir Mapuskar, the accused, had been employed with Zaina Electric and Mechanic Work since 1992. Over the years, he had gained the company’s trust and was authorized to receive OTPs for the company’s banking transactions on his cellphone.
TOI reported that the according to a chargesheet filed by Azad Maidan police station, Mapuskar took advantage of this trust and transferred large sums from three of the company’s bank accounts to his personal accounts. A forensic audit by the company’s chartered accountant revealed that Rs 1.08 crore had been fraudulently transferred between May 2016 and March 2023. Online Fraud in Mumbai: Man Poses as Police Inspector, Dupes College Professor of Rs 1 Lakh After Claiming Her Son Was Detained.
The company’s proprietor, Fali Dadi Palkhiwala, lodged a police complaint stating that Mapuskar had diverted funds meant for employees’ provident fund, salaries, and taxes. The police claim that Mapuskar has confessed to his crime, stating that he was enticed by a ‘double-your-money’ scheme proposed by four individuals in 2021, leading him to dip into the company’s funds. Online Fraud in Mumbai: Teen Loses Rs 2 Lakh While Playing Game on Mother’s Mobile Phone, Dies by Suicide.
This misappropriation had a cascading effect, resulting in employees’ salaries going unpaid for a while. The misappropriated amount included Rs 67 lakh meant for ‘ROC’, Rs 2 lakh for income tax, Rs 48.06 lakh for goods and services tax, Rs 4.93 lakh for the employee’s provident fund, and Rs 4.75 lakh for staff salaries.
Mapuskar confessed that his plan was to return the illegally borrowed amount once he profited from the insurance scheme. The police have frozen at least 15 bank accounts used by Mapuskar in the misappropriation of the company’s funds.
(The above story first appeared on LatestLY on Apr 10, 2024 03:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).