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The Marine Drive police have booked an assistant manager of leading public sector general insurer, United India Insurance Company Limited, for allegedly siphoning off ₹8.09 crore from the company’s accounts. The accused purportedly diverted the money into his seven personal accounts with the help of other accomplices.
The accused, Khushel Singh, was posted at the Churchgate office of the insurance company and was looking after accounting in the corporate cell.
As per the complaint submitted by Jaideep S Sinha, 56, deputy general manager at the company, on May 21, the company’s principal office in Chennai received a communication from a private bank’s Mumbai office informing them about irregularities linked to their current account.
When the complainant’s company carried out a preliminary inquiry into the irregularities, it was found that assistant manager Singh had diverted some funds from the company’s account to around seven bank accounts held by him in a personal capacity.
Inquiry revealed that between November 13, 2020, to April 23, 2021, the accused had in all siphoned off ₹80,998,795 in 21 unauthorised transactions. The money was diverted to Singh’s seven accounts in Mumbai and Jaipur, states the first information report (FIR).
The inquiry has also revealed that Singh has also diverted funds to some other individuals. Details of these people are being obtained, said a police officer.
The police have booked Singh under sections 409 (Criminal breach of trust by a public servant, or by banker, merchant or agent) and 120B (criminal conspiracy) of the Indian Penal Code.
“If money is found in the said accounts of Singh, they would be frozen and later the funds would be shown as recovery in the case. We are also checking how Singh managed to dodge the audit system of the company ensuring unauthorised transactions go undetected,” said an officer from Marine Drive police station.
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