Borivali man held for duping his employer of Rs 7.7 crore
Fernandes, who worked as a business head consultant for the company, told his employer that if they wanted to grow their business, they would have to pay commission to other companies that would help them get more clients.
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An officer said that Fernandes had sought anticipatory bail from sessions court and later the high court where it was rejected. (Representational image/File)MUMBAI POLICE arrested a 45-year-old Ritesh Fernandes, resident of Borivali, for allegedly defrauding the company of around Rs 7.74 crores. Fernandes was produced before the court on Sunday and was remanded to police custody.
Fernandes, who worked as a business head consultant for the company, told his employer that if they wanted to grow their business, they would have to pay commission to other companies that would help them get more clients.
The police said that over a period of time, Fernandes, who worked for the company from 2017 to 2023, created four companies in the name of his wife, mother-in-law, father-in-law and a friend and transferred large sums to these companies as ‘commission’.
However, after his employer realised that Fernandes had been cheating them, he approached the MRA Marg police station in south Mumbai where an FIR was registered against Fernandes, his family members and the friend in whose names he had set up these companies.
An officer said that Fernandes had sought anticipatory bail from sessions court and later the high court where it was rejected. Following the rejections, police tracked him down and placed him under arrest.
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