Hyderabad: The Charminar police arrested a 22-year-old employee of a textile company, Ram Swaroop, for embezzling approximately Rs 70 lakh from his employer, Rajlaxmi Textiles (India) Pvt Ltd, on March 12.
The arrest followed a complaint lodged by the company’s director, Jairam Dewasi, who reported the fraudulent activities of Swaroop, who served as a cashier and billing operator at the firm.
The police apprehended Swaroop based on credible information and during interrogation, he confessed to using part of the embezzled funds to purchase a country-made pistol and five live rounds for Rs 40,000 from an accomplice, Mohan Ram, who is currently absconding.
Additionally, Swaroop admitted to buying two iPhones with the misappropriated money.
The police seized the firearm and ammunition at Swaroop’s direction. The case has been registered under various sections of the Indian Penal Code and the Arms Act of 1959. The accused was presented before the Hon’ble Court on the same day.
The operation was conducted under the supervision of asst commissioner of police P Chandra Shekar and the inspector K Chandra Sekhar from the Charminar police station.
This incident highlights ongoing concerns regarding financial fraud within businesses and illegal arms possession in Hyderabad.
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