Goldman Sachs Vice President Ashwani Jhunjhunwala has been arrested for swindling Rs 38 crore to overcome poker debts. He will be produced in court said Whitefield MN Anucheth.
Police said a senior executive of global investment firm Goldman Sachs has been arrested on Tuesday for swindling Rs 38 crore to overcome the financial losses due to playing poker game online. Complain was lodged by the legal head of Goldman Sachs, Abhishek Parsheera.
According to the FIR, a case under various IPC sections including criminal breach of trust and cheating was registered against Ashwani Jhunjhunwala and Vedant who has been terminated from the company for these kind activities. He had used his three subordinates, Gaurav Mishra, Abhishek Yadav and Sujith Appaiah to execute his plan. The vice-president logged on to their office systems on the pretext of training them.
While using their computers, Ashwani Jhunjhunwala asked them to leave by pretext such as bringing water. When he got the chance to stay alone he transferred Rs 38 crore in instalments to the Industrial and Commercial Bank of China illegally.
The matter came to light on September 6 during an internal audit. Subsequently, Mishra, Yadav and Appaiah were questioned, who expressed their ignorance.
According to police sources, Mishra told company officials that Jhunjhunwala had asked him to create a Settlement Reconciliation Service (SRS) for payment recall recently, which he did not know as he was new to the firm. It was during that time that Jhunjhunwala allegedly took control of his system to siphon off the money on September 4.
Police also said that Ashwani Jhujhanwala had also obtained a loan of ₹25 lakh and personal loans from a few others. Following losses, Jhunjhunwala consulted Vedant who allegedly guided him to divert the money. Vedant, who has been terminated from the company for such fraudulent activities, had allegedly connived with him to siphon off the money.