Hyderabad: Man booked for embezzlement of company funds

Madan Kumar, has been booked by Hyderabad Cybercrime officials for embezzling Rs 2.3 crore. He allegedly used fake firms and diverted client orders for personal gain. The Central Crime Station is currently investigating the case

Hyderabad: The Hyderabad Cybercrime officials have booked an employee of Tele Network Company for alleged embezzlement of funds to the tune of Rs 2.3 cr.

 

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Thota Venkat, the complaint alleged that the suspect, Madan Kumar, who joined the company in 2014, was entrusted with the responsibilities related to the main business functions. However, he committed irregularities along with some officials of the Greenco Group and other clients for personal gain.

 

He established a company in the name of Ninth Pixel Geosoft (OPC) Private Limited and misled senior officials of Greenco to give work contracts and service orders in the name of his company as well as Aatri Solutions

 

Apart from this, he also diverted orders coming from various companies. He committed embezzlement by billing for work that was not done. The Central Crime Station officials are investigating the case