Nashik IT Company Fraud: Rs 93 Lakhs Stolen by Employees Using Virtual Credit Cards

Three employees of an IT company located on Wadala Road in Nashik have been accused of siphoning off Rs 93 lakhs through unauthorized transactions using virtual credit cards. Kumar Paramsivan Nader, the company's representative, reported the incident to the cyber police station, leading to a case being registered against the accused.

The complaint alleges that Mayur Wadekar, Adil Shaikh, and Bhushan Waghodkar, who were authorized to manage flight ticket bookings through a foreign company, exploited their privileges. They were responsible for issuing temporary virtual credit cards, which lasted four hours and were used specifically for purchasing airline tickets for company officials traveling internationally.

However, instead of adhering to their duties, the trio allegedly misused this authority. They reportedly procured 229 virtual credit cards from the foreign company, of which 115 were used to book flights between July 13 and August 4. These illicit transactions resulted in financial losses amounting to Rs 93 lakhs.

The case has invoked sections of the Information Technology Act, charging the employees with fraud and financial malpractice. Senior Police Inspector Riyaz Shaikh confirmed ongoing investigations to trace any additional accomplices involved in the fraudulent activities.

The company management expressed dismay over the breach of trust and financial misconduct, emphasizing the need for stringent measures to prevent such incidents in the future. The accused individuals await further legal proceedings as the investigation continues.