Archive · 28 Sep 2025
Ex-Marcellus CFO Booked for ₹1.18 Crore Embezzlement
Pankaj Gupta, former CFO of Marcellus Investment Managers, is facing legal action for allegedly taking ₹1.18 crore from the company.
He conducted over 30 unauthorized transactions using company accounts and credit cards between December 2024 and July 2025.
The fraud was discovered during an audit, and Gupta admitted to the actions.
Marcellus has stated that no client funds were impacted.
The company has reported Gupta to the police, and legal proceedings are underway.
Pankaj Gupta, ex-CFO of Marcellus, is booked for embezzlement.
He allegedly embezzled ₹1.18 crore via unauthorized transactions.
The fraudulent transactions occurred between December 2024 and July 2025.
Marcellus Investment Managers filed an FIR.
The firm assured that no client funds were affected.
- Who
- Pankaj Gupta, ex-CFO of Marcellus Investment Managers
- What
- Embezzled ₹1.18 crore through unauthorized transactions.
- When
- Between December 2024 and July 2025.
- Where
- Mumbai
- Why
- Gupta misused corporate credit cards and funds.
- Suspect
- Pankaj Gupta
- Role
- Former CFO, Marcellus Investment Managers
- Embezzled Amount
- ₹1.18 crore
- Transactions
- Over 30 unauthorized
- Timeframe
- December 2024 - July 2025
- Clients Funds
- None Involved
- Action
- FIR filed by Marcellus
