Husband and wife arrested for defrauding employers to the tune of Rs 3.77 crore in Ahmedabad |

Ahmedabad: A man and his wife have been arrested for defrauding their employer to the tune of Rs 3.77 crore. The husband, an accountant, was accused of embezzling funds over a period of 16 years.
The complainant, a 56-year-old businessman from Ellisbridge who runs a ready-made cotton shirt washing business in Behrampura, told police that he hired the Dariapur resident to handle his companies’ accounts in 2008.
The bookkeeper’s job included managing accounting tasks, ordering materials from, and processing purchase invoices. “As we were less educated and not well versed in accounting and banking, we entrusted the accountant with the task of signing checks and authorized him to make payments,” the complainant told the police.
The complainant said he was checking the books of his two companies in March this year when he noticed transactions with unknown firms. This raised suspicions and prompted the company’s Chartered Accountant (CA) to initiate an investigation.
CA found transactions with unknown firms with surprisingly similar names to those from which they regularly purchased materials. Further investigation revealed that these firms belonged to the accountant and his wife. “On checking the books, we found that the accountant fabricated purchase records, transferring funds to accounts held by the couple and their relatives,” the complainant told the police.
The complainant also alleged that the couple had taken loans worth Rs 11.59 lakh in the name of the company. “While the company’s records showed that the loans had been repaid, the couple later confirmed that the money had not been returned to the creditors,” the complainant told the police.
“When confronted, the accountant confessed that he created a company in his name in 2011 and another in his wife’s name in 2019 to meet his financial needs,” the complainant claimed. “He admitted that he transferred company funds into these accounts and used the money for personal purposes,” the plaintiff added.
The businessman said the accountant exploited his position for over a decade, masking fake purchases and misappropriating funds worth 3.77 million lei. The Crime Branch has laid charges under sections of cheating and criminal breach of trust and further investigations are underway.