Fraud Unveiled: Sales Executive Creates Bogus Entity to Swindle Rs 44 Lakh

Delhi Police arrested Yudhish Chand, a sales executive, for duping his employer and customers of Rs 44 lakh. Chand allegedly created a fake company to divert funds into his account and used the money for online betting. He confessed to using forged documents for transactions.

A 36-year-old sales executive has been apprehended by the Delhi Police for allegedly defrauding customers and his employer over Rs 44 lakh. The suspect, identified as Yudhish Chand, was reportedly involved in creating a fake company to facilitate the fraud.

Chand, who was employed by a private automobile company, allegedly forged documents, including delivery orders and finance papers, directing funds to a bogus account he controlled. This account, purportedly for a fictitious entity named Galaxy Cars, misled individuals into believing it was associated with Galaxy Toyota.

Authorities found that the embezzled money was diverted into Chand's personal account and was later used for online betting. Following a detailed investigation, police arrested him on November 6 in Haiderpur, Delhi. Chand admitted to committing the fraud and acknowledged using fake documentation to execute the scheme.

(With inputs from agencies.)