Daijiworld Media Network

Mumbai, Jun 1: An accountant, from a watch showroom housed at a five-star hotel, has been arrested by the city police in connection with the alleged financial fraud.

The accused has been identified as Shailesh Haryan (34), who stays in a Mira Road residential apartment. The police said Shailesh, after allegedly looting 7 crore from the company, used it to buy costly liquor, jewellery, and apartment. He even splurged a big amount on visiting dance bars and putting up at hotels with friends.

The offender worked at the watch showroom between 2010 and 2015.

“He misused the company's system password to divert funds, made dummy entries and fabricated the company's accounts. The auditor found a miss-match in the balance sheet during the auditing process for the financial year 2014-15. It was found that the funds had been transferred to Haryan's bank accounts,”said the police.

Police said Haryan had used Rs 10 lakh of the misappropriated funds to buy jewellery besides Rs 23 lakh used to book a flat in Virar. He had returned the jewellery and the ownership papers of the flat to the company.