Man swindles gold worth Rs 5.72 cr from employer with fake corporate gifting order

A man was arrested for allegedly duping his employer by appropriating gold coins worth Rs 5.72 crore using forged purchase orders and documents, a Mumbai police official said on Saturday.

The Vanrai police station identified the accused as Sunil Gupta, who was arrested on Wednesday.

''Gupta worked at a firm making corporate gift items for the past two years and had been given the power to handle financial transactions. He had access to the company's email accounts etc. He told his employer and complainant Naresh Jain that a pharmaceutical company had placed an order for gold coins for corporate gifting,'' the official said.

''For this, Jain booked 3.4 kilograms of gold worth Rs 2.46 crore, which he handed over to Gupta for delivery. Gupta later submitted documents, including a stamped and signed tax invoice, to prove delivery. He then said the firm had placed a second order, after which Jain dispatched another 3.6 kilograms of gold coins valued at Rs 3.17 crore,'' the official said.

After being confronted over non-payment by the pharmaceutical firm, Gupta confessed he had not delivered the gold coins but had instead misused them for his personal benefit.

''He admitted to creating bogus invoices and forged documents and assured Jain he would repay the amount once his financial issues were resolved. Jain also found out the pharma firm had not placed any order. He then lodged a complaint with Vanrai police, after which Gupta was arrested,'' the official informed.

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