HR boss gyps com­pany of `92L by pay­ing salary to ‘2 ex-staff’ over 7 yrs

The Times of India (Mumbai edition) - - TIMES CITY - V.Narayan @times­

Mum­bai: A hu­man re­sources man­ager of a tex­tiles com­pany was ar­rested on Fri­day for al­legedly si­phon­ing off Rs 92.3 lakh from the bank ac­count of his em­ploy­ers. The ac­cused, Nitin Bo­rade (55), who had worked for this com­pany for the last 27 years, com­mit­ted the fraud be­tween 2011 and 2018 by us­ing salary ac­counts of two for­mer em­ploy­ees of the com­pany, said an of­fi­cial from MIDC po­lice sta­tion.

Bo­rade al­legedly op­er­ated bank ac­counts of the two for­mer staffers through In­ter­net bank­ing and the two were un­aware of it, said the po­lice.

Bo­rade used his po­si­tion in the hu­man re­source de­part­ment to carry out the fraud, said an of­fi­cer. The monthly salary pay­ment pro­ce­dure for the 60-odd em­ploy­ees was that the ac­counts man­ager would send an ap­proved sheet to Bo­rade who in turn ap­proved and re­layed it to the bank for pay­ment. “It is here that he used to at­tach a list of the two for­mer em­ploy­ees and in­struct the bank to pay them, show­ing them as cur­rent em­ploy­ees,” said a po­lice of­fi­cer.

Once the money was cred­ited to the ac­counts of these two, Bo­rade al­legedly trans­ferred the sums through In­ter­net bank­ing to two bank ac­counts he had opened in the name of dummy trusts. “He then used the cheques of these trust ac­counts and ac­cessed the funds for him­self,” said the of­fi­cer. “Bo­rade had pro­cured the lo­gin and pass­word to op­er­ate the bank ac­counts of the two em­ploy­ees through In­ter­net bank­ing, said an­other of­fi­cer.

Over the seven years that the fraud took place, Bo­radeused at least 67 bearer cheques to with­draw the money from the ac­counts of the two dummy trusts, said the po­lice. The fraud came to light only re­cently when an em­ployee from the ac­counts sec­tion got sus­pi­cious on find­ing “ad­di­tional” salaries paid by the com­pany’s bank.

“This hap­pened when em­ploy­ees’ salary for Novem­ber 2018 were be­ing paid that they stum­bled upon two ex­tra pay­ments from the bank,” said the of­fi­cer.

A com­plaint lodged by the tex­tiles firm states that “Bo­rade was caught red-handed af­ter an ac­counts de­part­ment staffer went through de­tails of the bank ac­count through which the salaries had been paid,”

Bo­rade claimed that three ac­counts em­ploy­ees had con­nived with him. The po­lice said that the em­ploy­ees were ques­tioned, but they claimed they were to­tally un­aware of this.

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