Fraudulent Funds: IRDAI Assistant Manager Faces Major Accusations

An assistant manager from the Insurance and Regulatory and Development Authority of India (IRDAI) stands accused of orchestrating a fraudulent scheme to siphon off more than Rs five crore from the authority's funds. Utilizing fake invoices, the official allegedly redirected the money into personal and relatives' accounts over two years.

The case was initiated when a separate entity highlighted that it had not received an expected payment, prompting a deeper investigation. Following an official complaint, the Economic Offences Wing of Cyberabad police registered the case, citing relevant legal sections, approximately a week ago.

The authorities are continuing their probe into the matter to uncover the full extent of the alleged financial misconduct, aiming to hold those responsible accountable for their actions.

(With inputs from agencies.)