A former manager was caught siphoning funds from his employers in order to pay for his gambling indulgence. Dinesh Patel went into hiding in Dehgam, and was caught on Tuesday by the Kalupur police. Patel was a manager with an angadia firm, from which he siphoned Rs 70 lakh from his employers.
Although the Rs 70 lakh was siphoned from the firm on 23rd March, the complaint was only filed recently. The owner of Amrut Soma Patel and Company at Kalupur, Amrut Patel, filed the complaint against Dinesh Patel, who had been working at the firm for about 15 years, and had been a trusted employee who dealt with large financial transactions.
A police official said: “During the investigation, we got to know that Dinesh had fled with the day’s proceeds at the angadia firm. The complaint was filed a little late as Dinesh’s father had promised to pay back the defrauded amount. After waiting in vain for money to be paid back, the company officials finally approached us.”
Sub-inspector G L Visani found Dinesh’s location, and after confirming that he was in fact located at the location in Dehgam, had him arrested.
Dinesh Patel explained to the police “that he had started indulging in cricket betting since last one year. Initially starting with smaller amount, he gradually increased the bets and run a debt of Rs 1.13 crore.”
It seems that when Dinesh ran out of gambling money from his salary, he decided to start using the money from his firm, where he had been a trusted employee up until that time.
Sub-inspector Visani said: “As the company had turnover in lakhs, he would adjust the amount everyday. However, soon he started falling short of the money as he had placed major bets.”
While Dinesh did pay back part of his gambling debt, he was unable to pay all of it, which led to him stealing money from the company. Dinesh’s father tried to cover the debt but was unable to raise enough money to cover all of it.