Mumbai, May 18 (BDNews24): The Crime Branch of Mumbai police has arrested Amit Mayekar, Secretary to the Times of India’s Associate Executive Editor Derick D’sa, for allegedly siphoning off INR 150 million or US$ 2.2 million from the company by submitting fake invoices for payment to freelance contributors.
Mayekar was held in Pune on Thursday, along with one of his relations, Scroll.in reported.
With these arrests, the police have held 23 people in connection with the alleged fraud.
Mayekar is accused of conspiring “with unknown people” to make payments for freelance articles that were never actually written or published, according to the report.
In his complaint to the police, D’sa said Mayekar reportedly got him to sign invoices for payments to 78 contributors.
A Crime Branch official told Scroll.in Mayekar used to transfer the money of ToI owner Bennett Coleman and Co Ltd into the accounts of the beneficiaries, and would later ask them to withdraw the cash.
These beneficiaries would get a 10 percent commission, the official claimed, according to the report.
The police are also investigating Mayekar’s previous financial transactions, including his trips abroad. They are also looking into the bank accounts of his relatives.