A case of financial fraud amounting to ₹32 lakh has been registered in Ramnagar, Nainital district, where a youth allegedly embezzled funds from his employer over a period of eight years. Police have initiated an investigation following a written complaint filed by a local businessman who accused his cashier of misappropriating money through systematic deceit.
Our correspondent reports that the accused had been employed as a cashier at the complainant’s firm and was responsible for maintaining daily financial records. Over several years, he allegedly manipulated transaction details and diverted cash into his personal accounts. The irregularities came to light after an internal audit revealed significant discrepancies in the firm’s accounts.
According to police officials, the accused had built a strong sense of trust with the employer, which he later exploited to conceal the fraud. The businessman, suspecting foul play after repeated inconsistencies, reviewed financial documents and uncovered evidence suggesting unauthorised fund transfers. A formal complaint was subsequently lodged at Ramnagar Police Station.
Our correspondent adds that a First Information Report (FIR) has been registered under relevant sections of the Indian Penal Code (IPC) pertaining to criminal breach of trust and cheating. Police have begun examining the firm’s account books, bank statements, and transaction records to ascertain the exact amount siphoned off and the methods used.
Investigators said the accused had allegedly created false entries and duplicate receipts to hide the misappropriation. He also reportedly withdrew funds in small instalments to avoid detection. Police sources confirmed that multiple bank accounts are now under scrutiny, and efforts are being made to trace the money trail.
Senior officials of the Nainital district police stated that a special investigation team (SIT) has been formed to expedite the inquiry. Statements from the complainant, auditors, and staff members have been recorded. The accused, who has gone absconding since the complaint was filed, is being traced through his mobile and financial activity records.
Police officials said that such financial crimes are becoming increasingly sophisticated, with perpetrators exploiting digital payment systems and bookkeeping loopholes. They advised local traders and business owners to maintain periodic audits and digital transaction oversight to prevent long-term frauds of this nature.
Residents of Ramnagar expressed concern over the incident, noting that such cases undermine public trust in local business relationships. The authorities have assured that strict legal action will be taken against the offender once apprehended.
Our correspondent reports that the police are also investigating whether others were involved in facilitating the fraudulent transactions or in concealing financial evidence. Preliminary findings suggest that the accused acted alone but had access to the firm’s complete accounting system.
The complainant has urged the authorities for swift recovery of the defrauded amount, while police have said that bank coordination is ongoing to identify and freeze the relevant accounts. Officials have also hinted at possible charges under the Information Technology Act if digital manipulation is confirmed.
Police have reiterated their commitment to a fair and thorough investigation, ensuring that the accused is brought to justice. The case highlights the growing need for financial vigilance and transparency in small and medium-scale enterprises across the region.
