Gurugram, Sep 30 (AISN): The finance head of a private firm in Gurugram has been booked for allegedly embezzling Rs 10 crore on the pretext of investment for the company, police said on Saturday.

The alleged fraud was committed from December 2022 to July 2023 at the company located under the jurisdiction of the Civil Lines Police station.

According to the police, complainant Jitesh Arora stated that the finance head of his company allegedly siphoned off over Rs 10 crore from the bank accounts of the company to his accounts without any authority which leading to huge loss for the company.

The victim told the police the alleged fraud came to the fore when the company, that audits the company’s accounts, discovered in July that over seven months, the accused had siphoned off several amounts from the company’s accounts to his personal bank accounts.

"The suspect also admitted that the said amounts were used by him for his investments in the stock market, wherein he suffered severe losses," the complainant told the police.

Based on a complaint and after an investigation a case under relevant sections of the IPC was registered against the accused at the Civil Lines police station.