The vice president of global investment company Goldman Sachs has been arrested by Bengaluru City Police on charges of fraud and misappropriation of funds.
Ashwani Jhunjhunwala, a vice president of the company’s Bengaluru office, is accused of siphoning $5.4 million (around Rs 38 crore) by logging in to the company’s internal computer systems.
MN Anucheth, Deputy Commissioner of Police, Whitefield told Indianexpress.com, “Ashwani Jhunjhunwala transferred 5.4 million dollars (Rs 38.8 crore) from the company’s account to a private account abroad by logging in through the computers of his three junior colleagues. He transferred the money in just 10 minutes on September 4. After this transaction, the company which has a mechanism to track such activities, found that the transaction was made by Ashwani.”
Goldman Sachs had filed a complaint with the police after learning about the illegal transaction. A case has been filed under sections 419 and 420 ( relate to cheating and dishonesty) and 408 and 409 (related to criminal breach of trust by an employee).
According to a copy of the company’s complaint, Jhunjhunwala approached his company’s junior employees Gaurav Mishra, Sujith Appaiah and Abhishek Yadav on the pretext of training them. He then sent them away on an errand and used their computers to transfer the money. The transfer was done in two tranches to Synergy Wisdom Ltd’s account in Industrial Commerce Bank of China (Asia) Ltd, Hong Kong.
Jhunjhunwala, police said, had lost money in online poker games and had taken loans from banks. Police are interrogating Jhunjhunwala and he will be produced before a magistrate on Wednesday.