The cyber crime unit of the Criminal Investigation Department arrested a 26-year-old software engineer, who was on the run for two years after allegedly cheating his company by misappropriating cryptocurrency worth ₹56 crore.
The accused Shubhang Jain, a native of Haryana, was working for a city-based cryptocurrency management company. The accused had access and control of all the company wallets which he allegedly misused and transferred currency to private wallets, which he had created with fake identities. The accused had even created wallets in the names of his parents and relatives to divert the company’s currency between May 2021 and April 2022, the police said.
The cheating came to light during an audit. When the accused was confronted, he allegedly admitted to the crime and met the CEO along with his parents and promised to return the money before fleeing.
Based on a complaint by Akhil Gupta, the Subramanyanagar police registered a case under the IT Act and the case was later transferred to the CID cyber crime division for a detailed probe.
Based on information, the police tracked down the accused to Mumbai where he was working for a different company. The police have taken him into custody for further investigation to recover the money.
Published – September 10, 2024 06:08 pm IST