ANI
29 Oct 2020, 19:25 GMT+10
New Delhi [India], October 29 (ANI): The Economic Offences Wing of Delhi Police has arrested one person on Wednesday for alleged illegal and unauthorized share trading in his personal and family accounts and causing a loss of Rs 18.50 crore to a private company.
The accused Ajay Oberoi allegedly caused a loss of Rs 18.50 crores to Exponential Financial Services Private Limited, a company in the business of trading shares, where he was appointed as an accountant and soon became the operational head/principal officer, as per an official statement.
"It is alleged that Ajay Oberoi, in conspiracy with his associates, siphoned off company funds by illegal trading. He sold shares of other clients in the company without the permission of the company or the clients. He has further been accused of unauthorized trading in the company's account by forging the signatures of the directors on the cheques," the police said.
"By misusing his fiduciary position and control over the affairs of the company, Ajay Oberoi had committed massive fraud by illegally and unauthorisedly trading in stocks and derivatives market in his personal, family accounts, also in the account of a peon of the company as well as in other company accounts," police added further.
Further investigation in the matter is underway. (ANI)Get a daily dose of Iraq Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Iraq Sun.
More InformationLONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
MOSCOW, Russia: Just hours after his sudden dismissal by President Vladimir Putin, Russia's former transport minister, Roman Starovoit,...
DUBAI, U.A.E.: Saudi Aramco is exploring asset sales as part of a broader push to unlock capital, with gas-fired power plants among...
CAIRO, Egypt: This week, both Hamas and Israel shared their views ahead of expected peace talks about a new U.S.-backed ceasefire plan....
BERLIN, 11th July, 2025 (WAM) -- President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a written message to Friedrich Merz,...
SAINT JOHANN IM PONGAU, Austria, 11th July, 2025 (WAM) -- Mexico's newest superstar makes a winning return to racing in Austria, as...
New Delhi [India], July 11 (ANI): The Central Bureau of Investigation (CBI) has successfully coordinated the return of Kubbawala Mustafa...
Tel Aviv [Israel], July 11 (ANI/TPS): Israeli Prime Minister Benjamin Netanyahu spoke Thursday afternoon with the head of the Gush...