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The duo has been arrested by the MIDC police. Assistant General Manager (AGM) of a private company has been arrested along with the Vice President of a reputed private bank for committing a
fraud close to Rs 2 crore. The arrest was done by the MIDC police and the accused duo has been identified as Kaushalya Negi (33) who worked as the AGM at an Andheri based data collection
company and Simmi Sebastian (38), who was recently terminated from his services in the bank after the scam unearthed. Negi and Sebastian along with two more people are alleged to have
opened up a fake company in Panvel and also employing 46 people as part timers whose bank accounts were opened up to avert suspicion. The police claims that Negi and Sebastian managed to
misappropriate funds which were originally meant for the data collection company and they deliberately turned the roots of transaction to their fake company for five long years. According to
the police, Negi was employed by her company in 2012 and later, she managed to get three promotions, awards and also the confidence of the senior executives due to her performance.
"Negi gradually acquired a crucial position in the company and at least 250 junior employees worked under her. Operations like dealing with clients, preparing invoices, coordinating
with finance department, decision making and supervising company administration came under her purview. In 2015, she employed few of her old friends, relatives, colleagues in a fake company
named AXL Data Solutions in Panvel and assured them that they will earn money and profits on a monthly basis so she opened 46 bank accounts where a small chunk of money got deposited each
month. Apart from 46 accounts, there were another 4 bank accounts which belonged to Negi, her husband Milind Patil, her sister Parmila and her husband Simmi Sebastian and these accounts were
credited with heavy cash frequently without the knowledge of anyone," said a police officer. As per police reports Sebastian is one of the nominees who helped setting up the fake data
company and from 2015, Negi has started submitting forged invoices to her original company and using technical guidance she diverted the root of payment to her fake company from her original
one. In September 2018, the vigilance team of Negi's company suspected the fraud and informed the seniors about the same after which the company hired a private firm to scrutinize the
servers and systems of the company. After the case was taken to the police, inspector Kesari Pawar and API Deva Mupade took over the investigation and revealed that the bank account details
and statements reveal clear fraud done by Negi and Sebastian. "Those 46 people were not aware of the fraud but they were used as baits to escape suspicion. The servers of the company
have been given to the forensic laboratory in Kalina and we are awaiting their report. Total fraud was done in close to Rs 2 crore but more money is suspected to be involved in the
case" added the officer. The case has been registered under section 406, 417, 419, 420, 465, 477(A), 120B of the Indian Penal Code and section 43(D),(E),(I),(J), 68, 65(C),66,71 and 72
of the Information Technology Act. CRIME REPORT * Negi and Sebastian employed 46 people whose bank accounts were opened up to avert suspicion * Negi and Sebastian managed to misappropriate
funds which were originally meant for the data collection company * In September 2018, company suspected fraud and informed police