Man held for duping employer of funds to the tune of Rs 12 crore

The Central Crime Branch police arrested a 31-year-old man for misappropriating funds of his employer’s firm to the tune of Rs 12 crore.

The accused Diwan (31) of Tiruvallur worked as a sales manager of a private firm in Avadi that supplies consumer goods brands. In 2019, the company found out fund misappropriation and complained to the city police commissionerate.

The entrustment document fraud wing registered a case and the investigation revealed that Diwan colluded with sales representatives of the firm to cheat the employer and made false entries in the backend of the company software as if the collections were made on all invoices.

While a hunt was launched for Diwan, he was secured by the CCB sleuths on Tuesday and remanded in judicial custody. A hunt has been launched for other suspects.