In Mumbai, a 32-year-old individual accused of embezzling Rs 10.6 crore from his company reportedly spent the misappropriated funds on a luxurious wedding, a lavish honeymoon with his new bride, and other extravagant expenses, according to details outlined in the chargesheet filed by the EOW.
Raj Mukesh Ganatra (32), a senior employee at Trident Creation based in the city, used part of the embezzled funds to repay two loans he had taken: one amounting to Rs 30 lakh for betting on cricket matches, and another loan of Rs 10 lakh.
He also invested Rs 15 lakh in shares and mutual funds, indulged in personal expenses amounting to Rs 15 lakh. He financed a lavish wedding reception costing Rs 16 lakh from the company's funds and spent Rs 3.5 lakh on the honeymoon. According to the chargesheet, police investigations have uncovered that the accused obtained 42 loans between 2014 and 2022, repaying 31 of them using allegedly misappropriated company funds.
According to a report of TOI, the chargesheet filed last month by Economic Offences Wing the city police how the accused used the money. The police said he forged company documents to pinch huge sums from the company. During his six-year stint, the accused diverted the money into various bank accounts of his relatives, the police said.