The Sodala police in Jaipur on Thursday arrested the main accused in an alleged fraud and criminal breach of trust case involving the siphoning of more than Rs 1.03 crore from a private firm's accounts. Following the arrest, the police will conduct interrogations to recover the siphoned money.
Details of the Arrest
The accused, identified as Abhishek Khandelwal (28), was employed as a senior accounts executive at Jaipur Bio Fertilisers, a proprietorship firm, from April 1, 2025, to May 4, 2026. According to Rajashri Raj Verma, Deputy Commissioner of Police (South), Khandelwal was entrusted with handling the company's banking transactions and operating the CMS portal of Kotak Mahindra Bank for fund transfers during his tenure.
Discovery of the Fraud
The fraud came to light during a routine audit of the company's financial accounts for the financial year 2025-26 on May 25. Naresh Gupta, the Chief Executive Officer of the firm, alleged that Khandelwal illegally transferred company funds into his own accounts as well as accounts belonging to his relatives and associates without any authorization from the company management. An FIR was lodged on May 27.
The audit revealed that approximately Rs 1,03,72,881 had been diverted from the company accounts. The money was allegedly transferred to accounts linked to Khandelwal, his wife Nazia Bano, and another individual named Mohit Khandelwal.
Confession and Previous Cases
During questioning, the accused allegedly confessed to the offence. Officials added that Khandelwal had previously been arrested in two separate fraud cases. The police are now working to recover the siphoned funds through further interrogation.
