Goldman Sachs vice president will pay Rs. 38 crore fraud: arrest in Bengaluru

Bangalore, Ta. September 10, 2019, Tuesday

The vice president of the prestigious investment banking firm Goldman Sachs has been accused of cheating Rs 38 crore. According to the allegation, the company official had logged in with a junior employee's ID and withdraw money.

Karnataka's Marathahalli police has registered a case against accused Ashwani Jhunjhunwala on September 8. Police have taken Jhunjhunwala into custody on the complaint of Parshira, an officer of the Company Law Department.

A preliminary investigation revealed that Ashwani Zhunjhunwala cheated after losing money in online poker. Jhunjhunwala has been working at Goldman Sachs for the past four years. The case surfaced when an employee raised questions over two suspicious transactions. The fraud was caught on September 6 by the company following an internal audit.

Subsequently, three juniors Gaurav Mishra, Sujita Apaiya and Abhishek Yadav, who were reporting to Jhunjhunwala, were questioned. According to the complaint filed at the police station, the three juniors said that Zoonzoonwala used his computer as a pretext to review our work. After logging into the computer, Zhunjhunwala kept them busy eating and drinking.

According to the complaint, according to Pride, Jhunjhunwala asked him to set up the Settlement Reconciliation Service (SRS) for payment recall. ZunZunwala set up Gaurav's computer as he was unaware of the newcomer to the company.

Gaurav suspected he had discussed it with other office staff. He found out that ZunZunWala had set up a standard settlement in the name of Synergy Wisdom Limited, a Hong Kong company. In which Zoonzunwala used the id of pride.

The company told police that Zhunjhunwala admitted to the fraud when CCTV footage and other evidence were threatened. Jhunjhunwala further said that one of the three was involved in the fraud with him.