Punjab Police have registered a criminal case against an accountant and three of his family members for allegedly embezzling ₹1.20 crore from a commission agent’s business by manipulating financial records and transferring funds into their personal bank accounts.
According to the complaint, the prime accused, Harminder Singh, worked as an accountant for the commission agent and was responsible for maintaining the firm’s financial records and overseeing daily monetary transactions. Police allege that he exploited his position by systematically altering accounting records and secretly diverting business funds over a period of time.
Investigators allege that the misappropriated money was transferred into the bank accounts of his wife, Jaswinder Kaur, and their two sons, Lakhpat Rai and Gurmukh Singh, who have also been named in the case. Authorities are examining the financial transactions to determine the extent of each accused’s alleged involvement.
The alleged fraud came to light after the complainant, Sukhwant Singh, noticed discrepancies in the business accounts and ordered an internal audit. The audit reportedly uncovered the suspected diversion of approximately ₹1.20 crore, following which the businessman approached the police with supporting financial records and documentary evidence.
After conducting a preliminary inquiry, police registered an FIR against all four accused on charges related to criminal breach of trust, cheating, forgery, criminal conspiracy and other relevant offences. Investigators are now scrutinising bank records, accounting documents and digital financial evidence to establish the flow of funds and identify any additional beneficiaries.
Police said multiple teams have been deployed to trace and arrest the accused. Efforts are also underway to recover the allegedly embezzled money and determine whether any other individuals assisted in concealing or transferring the funds.
Investigators are examining whether similar financial irregularities occurred over an extended period and are verifying business records to assess the total financial impact of the alleged fraud. The probe remains ongoing, and additional legal action may follow based on the findings.
Financial crime experts associated with the Future Crime Research Foundation (FCRF) note that employee-led corporate frauds often involve manipulation of accounting records, unauthorised fund transfers and misuse of financial authority. They say that regular internal audits, segregation of financial responsibilities, continuous transaction monitoring and forensic examination of banking records are essential to detecting embezzlement at an early stage and strengthening financial controls within businesses.
