Mumbai: The MIDC police have booked the chief financial officer of Marcellus Investment Managers Pvt Ltd for allegedly embezzling Rs 1.18 crore. Pankaj Gupta, 48, is accused of siphoning off the amount using the company’s HDFC Bank credit card and current account ATM card.

### About the Case

According to the FIR, Marcellus Investment Managers is an investment firm located in MIDC, Andheri East, employing around 100 staff members. Gupta, a resident of Kandivali East, had been serving as the CFO since 2022 and was responsible for handling all financial matters.

The suspicious transactions were noticed between December 2024 and July this year. Upon inquiry by the company, Gupta allegedly confessed to transferring funds to his personal accounts in Kotak Bank, Axis Bank, and HDFC Bank.

The firm requested him to provide a written admission on stamp paper. Following this, Gupta allegedly threatened to harm himself as disciplinary action was underway against him.

On behalf of the company, Parilmal Deuskar, 47, a legal consultant, filed a complaint at the MIDC police station, leading to the registration of the case.

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https://www.freepressjournal.in/mumbai/mumbai-crime-news-police-book-investment-firms-cfo-for-allegedly-embezzling-118-crore