A suspected financial fraud involving nearly ₹1.5 crore has come to light in Delhi’s Burari area, where a steel businessman has accused his account manager of embezzling funds by exploiting long-standing access to the firm’s banking operations. Based on the complaint, police have registered a First Information Report (FIR) under the relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and launched an investigation. The complainant has alleged that the employee gradually misappropriated substantial amounts over the years by taking advantage of the trust placed in him and his unrestricted access to multiple bank accounts. The accused has reportedly been absconding since the matter surfaced.
According to the complaint, the suspect had been working as the firm’s account manager for nearly five years. During this period, he was responsible for the company’s banking operations, accounts, payments and other financial transactions. He also had access to several personal and business bank accounts belonging to the proprietor. The businessman has alleged that the accused abused this authority and trust to siphon off money from multiple accounts over an extended period.
The alleged fraud came to light last month when the businessman instructed the account manager to transfer a total of ₹1.10 crore from two separate bank accounts. As per the complaint, transfers of ₹50 lakh and ₹20 lakh were completed, but the remaining ₹40 lakh was never transferred. Whenever questioned, the account manager allegedly kept offering different excuses and assured the businessman that the transaction would be completed shortly.
The complainant further alleged that the account manager collected signed cheques from him on the pretext of visiting the bank. However, after leaving the office, he neither reached the bank nor returned to work. Repeated attempts to contact him reportedly failed, raising suspicion. The businessman then personally visited the bank to verify the pending transaction and ascertain the status of the accounts.
During the bank visit, he discovered that the accounts did not contain the expected balance. A subsequent examination of bank records and transaction details allegedly revealed that approximately ₹1.5 crore had been withdrawn from several bank accounts linked to both the business and the proprietor. According to the complaint, many of the transactions initially appeared to be routine banking activities, allowing the alleged financial irregularities to remain undetected for a considerable period.
The complainant has stated that a comprehensive financial audit of all accounts is yet to be conducted and believes that additional discrepancies could emerge during the detailed examination. He has urged investigators to thoroughly scrutinise banking records, payment trails and financial documents to determine the exact amount allegedly misappropriated and trace the movement of the funds.
Following a preliminary inquiry, police registered a case under Section 316(4) of the Bharatiya Nyaya Sanhita (BNS), which relates to criminal breach of trust. Investigators are currently analysing bank transactions, signed cheques, digital records and other financial documents. They are also attempting to identify the destination of the allegedly diverted funds and ascertain whether any other individual was involved in the suspected embezzlement.
According to investigators, the accused has remained untraceable since the complaint was filed. Efforts are underway to locate him through technical surveillance as well as searches at possible hideouts. Police believe that his arrest and subsequent interrogation will be crucial in establishing the complete sequence of events, tracing the flow of funds and identifying any potential accomplices. The investigation is continuing, with authorities examining every financial aspect of the case in detail.
