Mumbai crime: Three held for embezzling Rs 2.01 crore from money transfer company

Photo for representational purpose. Pic/ istock

Three people were recently arrested by the Central Region Cyber Cell for hacking the server of a private money transfer company and embezzling Rs 2.01 crore from its bank account in a year.

The three accused have been identified as Rohit Rathore, Rafiq Payak and Shamshad Khan. Police said Rathore, a Dahisar resident and a B.Com graduate, is the mastermind of the crime. Rathore did about 3,000 transactions in a year to embezzle the money from the private company he was employed at and transferred it sometimes to his account and other times to the accounts of his co-accused. He also gave commissions to Payak and Khan after transferring money to their accounts, said police.

The crime came to light when the company checked the balance sheet for the whole year and a difference of over Rs 2 crore was spotted, after which a complaint was made to the police and the three were arrested.

On Thursday, two accused, Rathore and Payak, were produced by the police in Bhoiwada court and were sent to five-day police remand. The arrested accused Khan has been admitted to the hospital as he is Covid-19 positive.

During the appearance of the accused, police told the court that Rathore used to hack the company's bank account and transfer it to the accounts of his co-accused. "As soon as Rathore used to transfer money to someone's account, it was withdrawn through ATMs shortly after that. Rathore would transfer money amounting to Rs 10,000 to Rs 15,000 to avoid any suspicion. There was only one big transaction which was of Rs 60,000," police told the court.

"Rathore has similarly transferred money in the accounts of 10 to 12 people, it is not yet known what has been done to the Rs 2 crore withdrawn from the company," they added.

A similar cheating case against Rathore was registered two years ago at Malad Police Station.