B'luru: Two, who bought property with money meant for paying GST, arrested for cheating pvt company

Bengaluru: Sanjaynagar police arrested two employees for defrauding a private company to the tune of Rs 9.60 crores.

The accused have been identified as Nikhil and Vinay Babu.

Police said both were BCom graduates and had obtained employment at an automobile company by falsely claiming to be Chartered Accountants.

Later they created a financial report of the firm and claimed that Rs 9.60 Crores as the GST was liable to be paid to the government for the business transactions. Trusting them, the company owner gav transferred the maoney to the accused.

The fraud was uncovered during an external financial audit of the account books of the firm, following which a complaint was lodged at the Sdashivnagar Police station. The case was later transferred to Sanjay Nagar police station.

Meanwhile, the accused had splurged the money on buying properties. Police said, both the accused have been arrested. Further, the property and a flat bought by Vinay Babu, worth crores of rupees, have been confiscated.