Police have arrested a cashier-cum-salesman in connection with an alleged ₹2 crore embezzlement at Sangam Saree Centre, where forged bills were used to systematically siphon off cash from the firm’s Golghar and Gorakhnath outlets. The arrest marks the second in the case, with more accused employees still on the run and a forensic audit underway to establish the full extent of the financial fraud.
The accused, Lucky Sharma, was picked up from a private colony in the Shahpur area on Friday morning. He had been working at the store in a dual role handling both cash transactions and sales, a position investigators say gave him access to billing systems and daily cash flow. Police had earlier arrested another employee on February 3, who is currently in judicial custody.
The case was registered on January 3 on a complaint by the store owner, who alleged that multiple staff members — including cashier Ravi Pratap Singh, Lucky Sharma, Suraj Jaiswal, Priyesh Singh and salesman Prashant Nayak — conspired to generate forged invoices and misappropriate funds. According to the complaint, the group manipulated billing records over time to withdraw cash in excess of actual sales, gradually diverting money from the business.
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Investigators said preliminary scrutiny of invoices, cash books, stock registers and bank entries revealed discrepancies between recorded sales and physical stock movement. Fake billing entries were allegedly used to justify cash withdrawals, creating a paper trail that masked the embezzlement. The fraudulent activity is believed to have continued for an extended period before being detected during an internal review.
Police sources indicated that the accused employees exploited gaps in internal controls, including the absence of real-time stock reconciliation and limited oversight over cash handling. The dual responsibility of billing and cash management allowed manipulation of records without immediate detection. Authorities are now examining whether supervisory lapses contributed to the scale of the fraud.
The financial trail of the siphoned funds is under investigation. Officers are analysing bank transactions, digital payment logs and personal expenditures of the accused to determine how the misappropriated money was used and whether it was shared among the conspirators. The possibility of external beneficiaries or facilitators has not been ruled out.
Officials described the case as an organised financial irregularity involving coordinated actions by multiple employees rather than an isolated act. Sections related to cheating, forgery, criminal breach of trust and criminal conspiracy have been invoked. Police are conducting raids to locate the remaining named accused and recover documentary evidence.
A forensic examination of accounting records has been initiated to determine the duration of the fraudulent billing and to reassess the total financial loss. Investigators believe the ₹2 crore figure may be revised after a comprehensive audit of historical transactions and stock discrepancies.
The incident has prompted a broader review of internal financial controls at retail establishments, particularly those handling high-value cash transactions. Experts note that segregation of duties, automated inventory tracking and periodic third-party audits are critical safeguards against such employee-led embezzlement schemes.
Police said further arrests are likely in the coming days and that recovery proceedings will be initiated once the money trail is established. The case continues to unfold as investigators piece together transaction records to map the full network involved in the alleged fraud.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
