Two MNC accountants held for siphoning off 12.15 crore

The Whitefield division police busted a financial fraud and arrested two employees of a reputed financial service firm for siphoning off Rs 12.15 crore from the accounts of its foreign customers.

The arrested are Maruthi alias Ramu Chandappa, a resident of Doddagubbi and Suresh Babu N of Bellandur.

The two had joined JP Morgan in Whitefield as accountants in 2013 after submitting fake educational certificates, the police said.

The duo had access to customers’ account details. Using these details, they transferred money to their personal bank accounts.

The fraud came to light three months ago during an annual audit. Initially, there was an internal inquiry and after verification by bank officials, the trail led to Chandappa and Babu, following which a complaint was lodged with the Marathahalli police.

Based on the complaint, the police picked up Chandappa and Babu and recovered Rs 8.14 crore from their accounts. With the rest of the money, the suspects had bought three acres of land in Doddaballapur, a four-storey building in Kothanur, 470 grams of gold ornaments and eight kilograms of silver articles which the police have recovered.

The police are trying to ascertain their possible role in any other criminal activities.

Lauding the Whitefield division police, the city police commissioner announced a cash reward of Rs 50,000 to sub-inspector Muniraj and his team for meticulously obtaining evidence to ensure a conviction.

DH News Service