Archive · 23 Jan 2026
₹11.21 Crore Corporate Fraud Uncovered at Mumbai Export Firm
A big company in Mumbai that makes women's accessories found out that a lot of money, about ₹11.21 crore, was stolen by their accountant and some other people.
The accountant, Raj More, was in charge of the money and used tricks to take it from the company over many years.
The company's boss, Mohan Gurnani, found out about the theft when someone told him something was wrong.
They checked the money records and found out that Raj More and others had been taking money and hiding it.
Raj More even wrote a note saying he did it and then died.
The police are now trying to find out more about who else was involved and where all the money went.
A Navi Mumbai-based businessman alleged a ₹11.21 crore corporate fraud by his company’s chartered accountant and accomplices over nearly seven years.
The fraud was detected in July 2025 through internal scrutiny and a forensic audit.
The chartered accountant, Raj Leela More, and accomplices manipulated bank statements, forged purchase orders, and fabricated vendor bills to siphon off funds.
Raj More died by suicide on July 6, 2025, leaving a note admitting to the fraud and accusing others of blackmail.
The Economic Offences Wing (EOW) is investigating the case to trace the money trail and identify additional beneficiaries.
- Who
- Mohan Thakurdas Gurnani, Director of Feelwell Garments and Accessories Pvt Ltd, and his company's chartered accountant Raj Leela More (deceased) along with other accomplices.
- What
- A corporate fraud amounting to ₹11.21 crore was uncovered at Feelwell Garments and Accessories Pvt Ltd.
- When
- The fraud occurred between 2018 and July 2025, with the detection in July 2025.
- Where
- The company is based in Sion East, Mumbai.
- Why
- The chartered accountant and accomplices allegedly siphoned off funds through manipulation of bank statements, forging purchase orders, and fabricating vendor bills.
- Victim
- Mohan Thakurdas Gurnani, Director of Feelwell Garments and Accessories Pvt Ltd
- Accused
- Raj Leela More (deceased), Shweta Jhanjhotad, Jayprakash Yadav, Sahil Jadhav, Lavina Parwani, Rahul Parwani, Saba Qureshi
- Amount Fraud
- ₹11.21 crore
- Duration of Fraud
- 2018 to July 2025
- Company Location
- Sion East, Mumbai
- Investigating Agency
- Economic Offences Wing (EOW)
- Date of Fraud Detection
- July 2025
- Date of Accused's Death
- July 6, 2025