Bengaluru: Goldman Sachs VP held for swindling Rs 38-cr to pay off poker debt

Agencies
September 10, 2019

Bengaluru, Sept 10: A senior executive of global investment firm Goldman Sachs was arrested on Tuesday for allegedly swindling the firm of Rs 38 crore to overcome financial losses while playing an online game recently, police said.

Ashwani Jhunjhunwala, the firm's vice president, has been arrested and will be produced in court, deputy commissioner of police of Whitefield M N Anucheth told PTI. Jhunjhunwalas aide Vedant is still at large, police added. Based on a complaint by the legal head of the company Abhishek Parsheera, a case under various IPC sections including criminal breach of trust and cheating was registered against the two.

According to the FIR, Jhunjhunwala had used his three subordinates Gaurav Mishra, Abhishek Yadav and Sujith Appaiah to execute his designs. The vice president had allegedly logged on to their office systems on the pretext of training them. "While working on their computers, he sent them away on some or the other pretext such as bringing water and logged on to their system.

Further, he transferred Rs 38 crore in two instalments to the Industrial and Commercial Bank of China illegally," the FIR said. Vedant, who has been terminated from the company for such fraudulent activities, had allegedly connived with him to siphon off the money, police said.

The matter came to light on September 6 during an internal audit. Subsequently, Mishra, Yadav and Appaiah were questioned, who expressed their ignorance, police said. According to police sources, Mishra told company officials that Jhunjhunwala had asked him to create a Settlement Reconciliation Service (SRS) for payment recall recently, which he did not know as he was new to the firm.

It was during that time that Jhunjhunwala allegedly took control of his system to siphon off the money on September 4, sources said.

The company stated in its complaint that Jhunjhunwala had lost USD 70,000 while playing online poker.

He had also obtained a loan of Rs 25 lakh and personal loans from a few others. Following losses, Jhunjhunwala consulted Vedant who allegedly guided him to divert the money, police added.

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News Network
April 18,2020

Bengaluru, Apr 18: Karnataka Health Minister B Sriramulu drew flak from his own party the BJP as well as the Congress for allegedly letting hundreds of people throng the Rupangudi Road in Ballari to collect food packets from him.

Visuals showed that the people came in hordes and fell on each other to collect the packets Sriramulu was distributing to the poor and needy as relief measure in the wake of lockdown.

The videos showed the minister standing with his team by the roadside and spreading out tables all along to distribute the food kit to the poor people.

Those in the queue had elderly people too.

A majority of people who rushed to grab the food packets did not bother to protect themselves with a mask.

"Whoever has done he has committed a blunder whether it is Sriramulu in Ballari or Anand Singh in Hospet.

All these elected representatives want to show that they are serviing the people in their constitutuency," said Karnataka BJP spokesperson Go Madhusudana.

Flaying the leaders of all political parties for defying norms, Madhusudana sad this has become fashionable for the leaders to perform 'cheap shows'.

He advised Sriramulu that it should have been done with door-to-door delivery of food packets instead of arranging it at the public place.

Congress spokesperson K E Radhakrishna said a case should be registered for defying regulations.

"I am all appreciation for Prime Minister Narendra Modi and Karnataka chief minister B S Yediyurappa who were the first to wake up and do something good for the people.

Now I feel sorry for them.

I wonder why they cannot control their own partymen.

People should file FIR against him (Sriramulu)," Congress spokesperson Prof K E Radhakrishna said

Slamming the alleged VVIP culture in the country, Radhakrishna said when the nation is facing a crisis, lavish marriages and grand birthday parties were organised. In the midst of all this health minister organises a food distribution mela, he added.

Attempts to reach the minister went in vain.

However, speaking to reporters at Ballari, Sriramulu admitted that the cases suddenly shot up in the state because of disregard to social distancing.

"People's support to lockdown is essential.

People have to maintain social distancing, without which we cannot control it," the minister said.

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News Network
February 26,2020

Mysuru, Feb 26: The Pre-University Education Department was taking several measures to prevent paper leaks during the II PU examinations, scheduled to commence from March 4, a statement said on Tuesday.

Among the few measures that the board has chalked out, students would not be allowed to leave the examination hall till the last bell. In case of any emergency, the student could leave the exam hall but s/he would be required to surrender the question paper to authorities in the hall.

This is being done to ensure question papers aren’t circulated during exam hours by those who exit the hall before the last bell.

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coastaldigest.com news network
August 1,2020

Bengaluru, Aug 1:: Karnataka Minister BC Patil on Friday said that he has tested positive for Coronavirus.

"The report has confirmed me to be corona positive. I am in home quarantine at my residence in Bangalore," he said in a tweet.

"During a recent visit to Koppal district, five of the staff members who accompanied me were reported to be coronavirus positive," he tweeted.

Meanwhile, a total of 5,483 new COVID-19 cases and 84 deaths were reported in Karnataka, the state's health department informed on Friday.

Karnataka now has a total of 1,24,115 coronavirus cases, including 72,005 active cases and 49,788 discharges.

So far, 2,134 deaths have been reported from the state.

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