The couple working with the public insurer in India 'United India Insurance' has engaged in a fraud which came to light earlier this month and now its reported that the fraud amounts to as much as Rs. 170 crores.
The Economic Offence Wing has come to know that this amount has been transferred to as many as 70 bank accounts. The fraud has been unearthed quite late as the husband worked in the accounts department while the wife was working with the IT department of the company, and she used to modify the entry in the records.
The husband (Kushal Singh) was also having the authorized signatory powers and was working at the post of Assistant Manager.
Also, the matter was noticed after Rs. 8 crore were transferred into the personal account of Kushal and at the beginning of the year it was known that the realty firm was registered in the name of the couple. And the scammers tried to escape abroad but failed owing to Covid 19 led restrictions.
Interestingly, the company United India was nominated for privatization and such a fraud puts a question market on the company's standing. It is reported that the company's financials shall be audited from 2016 till now.