Man booked for 31 lakh fraud

Time News Network
Ludhiana: A worker of Nova bicycle unit has been booked for embezzlement of Rs 31.50 lakh. It is alleged that he collected payment from different traders in Nepal but did not deposit the money with the company. An FIR was lodged against Praveen Singh Thakur of Dashmesh Nagar, Gill road, who had been working with the Nova company for the past some time.
In his police complaint, company general manager Ashok Kumar Sidana said that the accused worked with them as a salesman. He said he also dealt with traders in Nepal who imported their bicycles. After collecting payments from traders in Nepal, the accused deposited some money in the office but when records were checked, it was found that he had deposited Rs 31.50 lakh less than the total amount. Thereafter, Sidana lodged a complaint with the police and a case was registered following inquiry. ASI Onkar Singh, investigating officer said that a case was registered under sections 408 (criminal breach of trust by clerk or servant) and 420 (cheating) of the IPC. The accused is at large and efforts are on to nab him.