: A senior private sector employee, who was accused of embezzling Rs. 30 crore of the company he was previously working with, was arrested by the Economic Offence Wing of the State Crime Branch on Sunday.
Rakesh Chopra, formerly deputy vice-president of Karam Chand Thapar (KCT) and Bros Ltd, a Paradip-based coal handling company, had diverted the money meant for the company to his personal account and to another firm in which he was a partner.
EOW Deputy Inspector-General Sanjay Kumar said since the accused was posted in a high position, he used it to his advantage and started depositing cheques issued for KCT in his personal account.
Since account payee cheques cannot be deposited in other account, the accused had taken help of the bank employees, EOW sources said. Investigating officers would question bank employees for their alleged involvement in the fraud.
The bank transactions details were prepared in such a way that made them appear genuine. The statements were regularly sent to KCT headquarters. However, a detailed accounting excise exposed the fraud. Subsequently, Chopra lost his job.
