The police are probing how they managed to dodge the audit system of the company.
Police have charged the couple under Sections 409 (criminal breach of trust by public servant) and 120 B (criminal conspiracy) of the Indian Penal Code. EOW has managed to recover around ₹10 crore and opened an escrow account to deposit the money. The couple also allegedly invested over ₹7 crore in a firm for developing an online education mobile application. These properties are located in Delhi, Gurgaon, Greater Noida, Ghaziabad, and Jaipur,” said an EOW officer on condition of anonymity. “.the accused booked 72 properties, including residential flats and commercial spaces in various projects in north India mostly in the NCR.they paid approximately ₹100 crore to book these properties.
The EOW later found the couple allegedly siphoned off ₹170 crore over the years.Īlso Read | Rainfall intensity dips in Mumbai, temperatures to start rising Learn how our financial professionals can help. The company initially reported a fraud of ₹8.09 crore when it lodged a First Information Report (FIR) in the case last month. Welcome to New York Life, where securing the best life for you and your family has been our goal since 1845. Khushel Singh and Neelam Singh, who worked with the public sector insurer as assistant managers, were arrested on June 30. The couple accused of allegedly siphoning off ₹170 crore from the United India Insurance company’s account allegedly invested the money in real estate in the National Capital Region (NCR) and Jaipur, according to Mumbai Police’s Economic Offences Wing (EOW) probing the matter.