1 week ago
Former CFO Arrested in Alleged ₹1.19-Crore Mumbai Fraud
Police arrested Pankaj Gupta over an alleged money fraud case.
He used to be the finance chief of an investment management company.
Police say ₹1.19 crore was taken through 32 suspicious transactions.
These transactions happened between December 2024 and July 2025.
Investigators allege some money went into share trading.
They also say some was used for personal expenses and credit-card bills.
Police say Gupta went to Bengaluru after receiving a questioning notice.
He was arrested there and taken back to Mumbai.
Police are still checking where the money went and whether anyone else was involved.
MIDC Police arrested former CFO and chartered accountant Pankaj Gupta in Bengaluru.
Police allege Gupta defrauded his former investment management company of ₹1.19 crore.
Investigators identified 32 suspicious transactions between December 2024 and July 2025.
Police allege the money was used for share trading, personal expenses and credit-card payments.
Gupta was brought to Mumbai on August 15 and sent to Arthur Road Jail; the investigation continues.
- Who
- MIDC Police arrested Pankaj Gupta, a 44-year-old chartered accountant and former CFO.
- What
- He is accused of defrauding his former company of ₹1.19 crore through 32 suspicious transactions.
- Where
- Gupta was arrested outside his residence in Thubarahalli, Bengaluru, and taken to Mumbai.
- When
- The transactions allegedly occurred from December 2024 to July 2025; Gupta was brought to Mumbai on August 15, 2026.
- Why
- Police allege the funds were used for share trading, personal expenses and credit-card payments.
Key facts
- Accused
- Pankaj Gupta, 44, a chartered accountant and former CFO
- Alleged loss
- ₹1.19 crore
- Suspicious transactions
- 32 transactions
- Transaction period
- December 2024 to July 2025
- Arrest location
- Thubarahalli, Bengaluru
- Mumbai court custody outcome
- Gupta was sent to Arthur Road Jail
- Investigation status
- Police are tracing the funds and examining whether others were involved
Sources
Related news
Pune Cyber Fraud Losses Cross ₹961 Crore, Recovery Remains Low
ED Arrests Mumbai CA, Two Others in Goa Digital-Fraud Case
Delhi Police Arrest Man in Rs 23.60 Lakh Misappropriation Case
Gurgaon court slams police, grants bail in Rs 32.5-lakh fraud case
Jaipur ex-judge loses Rs 2.5 crore in 'digital arrest' scam
Mumbai Court Allows ED Questioning of Six Jailed Accused
Raj Kundra Recalls Suicidal Feelings Amid Divorce Rumours In Jail
Raj Kundra Recalls 63 Days Inside Arthur Road Jail
Maharashtra Plans Major Prison Expansion Amid 173% Overcrowding
