Ex-Ducati showroom executive held for swindling Rs 5 crore in Bengaluru

Bengaluru: A 45-year-old former operations head at a Ducati showroom in the city has been arrested on charges of embezzling crores of rupees and deceiving the company.

Sri Rakesh, hailing from Andhra Pradesh’s Guntur, held the position of operations head at VST Ducati Sales & Service on Agram Road, within the jurisdiction of the Vivek Nagar police station.

He has been accused of clandestinely selling 21 high-end Ducati bikes valued at Rs 5.1 crore, without the company's knowledge. He allegedly offered these bikes at a discounted rates, funnelling the proceeds into an anonymous account, "Office Specialty Supply", without maintaining any record.

A police investigation revealed that five of the sold bikes did not comply with the BS4 emission norms, which is a breach of the law.

The probe further unveiled that these bikes were registered in collusion with an accomplice at the RTO in Kurung Kumey, Arunachal Pradesh.

“Through Rakesh, the VST and Sons Company has sold five bikes under BS4 norms.  We are investigating the role of the company in this,” an investigating officer told DH.

“It is surprising that the company hasn’t checked the audit or even noticed 21 bikes being sold without their knowledge. If there’s any foul play, it will be discovered during the course of the investigation,” he added.

The officer said Rakesh resigned on October 20 after having worked for five years with the company. When the company held an audit, post his quitting, they found records for 29 bikes missing, following which they filed a complaint with the police.

Police sources express suspicion about potential lapses on the company's part, with further investigation required to ascertain any complicity.

Authorities have seized 10 bikes of various models valued at Rs 2.3 crore. Meanwhile, five bikes have already been sold to customers in different states, with the police actively gathering information on these transactions.