HR manager of textile factory embezzles 95 lakh, arrested
A 55-year-old man was arrested by the MIDC Police on Friday evening in connection with a cheating case lodged against him by his employers. The accused identified as Nitin Borade was working as Human Resource (HR) manager at a textile company. Borade is said to have conned the comapny owners to the tune of Rs 95 lakh in total. Borade surrendered himself to the cops and as per the police, he allegedly forged signatures of the company’s directors to channel money into his private account.
According to sources in the police, complainant Karan Sehgal, who runs the textile factory in Thane along with his brother Kabir, father Rajan, and Borade, was suspicious of the company’s balance sheet. Preliminary investigation revealed that Borade was responsible for embezzling money. Borade was working with the firm since 1992 and was entrusted with creditting salaries of the other 60 employees, preparing labour welfare fund bills, dealing in issues related to salary and preparing salary sheets. After receiving approval from senior officials, Borade sought final consent from the senior accountant to release salary into employee accounts, the police said.
“On finding something fishy in the company’s internal audit reports, the owners confronted Borade. He told his owners that he embezzled for only two months as he was short on cash. The owners realised that the names of two former employees were not struck off from the list. Instead, Borade kept encashing their cheques. Using this modus operandi, Borade had embezzled close to Rs 16 lakh from 2011 to 2018,” senior police inspecto, MIDC Police, Nitin Alaknure said.