Korba police arrests BALCO’s deputy manager in connection with Rs 9 crore stock market scam

Korba police arrests BALCO’s deputy manager in connection with Rs 9 crore stock market scam

Raipur: Korba police has arrested BALCO’s deputy manager (finance) in connection with Rs 9 crore stock market scam.

The deputy manager kept investing crores of rupees in the stock market of the company for years, but no one was aware of this scam. After about 4 years, when this the case came to light, the deputy manager who drowned about Rs 8 to 9 crore in the stock market is behind the bars of the police.

As per police sources, in the last 4 years, deputy manager Rudra Mohanty transferred about Rs 8 to 9 crore from the company's account to the bank accounts of his mother, sister and brother-in-law and invested in the stock market. However, he lost most of his invested money in the stock market.

After about 4 years, when the matter came to light, the Balco management lodged an FIR in this matter at the Balco police station, after which the police arrested the accused Rudra Mohanty by registering a crime against him. After three days of remand for interrogation by the court, the accused Rudra Mohanty has been sent to jail on remand on Tuesday.

Korba SP Abhishek Meena said that an FIR has been registered on the report of Avtar Singh, officer of Balco's security department. In the interrogation of accused Rudra Mohanty, it has become clear that he transferred crores of rupees from the account of Balco Vedanta Company to his account as well as to the account of his mother and sister. The accused Rudra Mohanty used to operate the account of his mother and sister himself and then he invested the money transferred in those accounts in the stock market.

Apart from this, he had also transferred Rs 37 lakh from the company's account to the account of his Orissa resident brother-in-law, using which he has built a house in Orissa. Therefore, in this case, the police will soon arrest the brother-in-law of the accused. He said the police is currently waiting for the statement of the bank accounts of the accused, as soon as the statement of bank accounts is received, the exact amount of scam money will be released.