'Manipal model': ex-staffer siphons off Rs 11.5 crore

Last Updated : 18 January 2019, 02:20 IST

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Four ex-employees of an IT firm in Richmond Town, including a senior financial consultant and his mother working as an accountant, were booked for siphoning off over Rs 11.5 crore from the company’s account and transferring it to the personal bank accounts of their relatives and associates.

This comes days after a similar case involving an ex-staffer of Manipal Group was reported.

The company, Condor Mirage, is headquartered in Gurugram and has a branch on Richmond Road.

Rahul Singh (42), the director, stumbled upon the fraud after a recent audit showed funds were not tallying. He then probed the accounts and learnt that his four ex-employees had siphoned off the money on different instances from November 20, 2014 to January 16, 2019.

According to the police, the accused Bhagawath K V was working as a senior finance consultant with his mother Jayalakshmi Venkataraman.

The Ashoknagar police are on the lookout for Bhagawath, Jayalakshmi Venkataraman, Prasanna Kumar, Mohammed Emron, Shridhya Chillara, Shilpa Prasanna, Sunder G V and are probing a firm Akhilandam Associates. Bhagawath had transferred money to his wife Shridhya Chillara and his assistant Prasanna Kumar, who transferred the funds to his wife Shilpa Prasanna’s account.

Singh was not available for comment.

Published 17 January 2019, 19:16 IST

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