Borivali Fraud Case: Support Team Leader Faces Allegations of ₹43 Lakh Embezzlement

Borivali Fraud Case: Support Team Leader Faces Allegations of ₹43 Lakh Embezzlement

In a shocking incident, a support team leader of a private company in Borivali has been accused of embezzling approximately ₹43 lakh. The accused, identified as 27-year-old Manish Bhimrao Rathod, is now under investigation by Kasturba Marg Police, who have registered a case of fraud and embezzlement against him.

The irregularities came to light when the company's IT Head, Alok Pandey, noticed suspicious financial transactions during routine checks. Following internal scrutiny, it was found that Rathod had misused his position to orchestrate the fraudulent activity.

Manish Rathod, a resident of Charkop, Kandivali, has been employed as a Customer Support Team Leader at Monilicious Security Private Limited, a Borivali-based stockbroking company. The company facilitates stock market transactions for its clients through a dedicated app named Dhan. Through this app, commissions from client transactions are directly credited to the company. Agents facilitating such transactions receive a 20% commission.

As a support team leader, Rathod's responsibilities included resolving customer complaints and assigning customers to specific agents based on formal requests submitted via email.

On October 18, during a financial audit, IT Head Alok Pandey discovered irregularities linked to an agent code activated on September 13, 2024. Investigations revealed that Rathod had mapped several customers under this agent without the required formal email requests. Consequently, commissions from these clients’ transactions, amounting to ₹43.5 lakh, were redirected to Rathod’s bank account through agents.

When confronted, Rathod reportedly admitted to bypassing company protocols to earn commissions illegally. Using his access rights, he manipulated the mapping process, assigning customers to specific agents without authorization. The commissions were then funneled into his account through intermediaries.

Following this revelation, Monilicious Security lodged a formal complaint with the Kasturba Marg Police. Based on preliminary investigations, a case of embezzlement and fraud has been registered against Rathod.