₹7 crore belonging to Swiggy misused for online betting, 23-year-old booked | Trending
Jan 30, 2025 12:00 PM Police in Bengaluru have booked a 23-year-old employee of a financial services company for allegedly misusing ₹7 crore belonging to Swiggy. Police in Bengaluru have booked a 23-year-old employee of a financial services company for allegedly misusing ₹7 crore belonging to Swiggy. According to The Hindu, Ashok Nagar police booked the 23-year-old for using Swiggy’s money to invest in an online betting company. ₹7 crore.” title=”An employee of a financial services company is accused of cheating Swiggy out of ₹7 crore.” /> ₹7 crore.” title=”An employee of a financial services company is accused of cheating Swiggy out of ₹7 crore.” /> An employee of a financial services company is accused of cheating Swiggy out of ₹7 crore. Here’s what happenedSrikant K, an employee of the unnamed financial services company, was charged under criminal breach of trust and cheating based on a complaint a senior company executive named Showri Rajan. The company handled accounting for many firms, including Swiggy. Srikant, a member of the accounting support team, was entrusted with paying their electricity bills across the state. He used to receive ₹1 to 2 crore from Swiggy every month for this purpose. Between June 2024 and December 2024, Srikant allegedly diverted a total of ₹6,86,51,160 to online betting company BetinExchange247.com. The money was diverted through a private IT company. How the fraud came to lightThe misuse of nearly ₹7 crore came to light during Swiggy’s audit. According to The Hindu report, during its audit, food delivery giant Swiggy found transactions amounting to around ₹7 crore deposited to the online betting company’s account. The issue was brought to the notice of Srinkant’s seniors at the company. When summoned, Srinkant admitted to his crime. Showri Rajan said his act amounted to cheating the company and its clients. This is not the first instance of financial fraud that has come to light in Bengaluru. Last month, Flipkart co-founder Sachin Bansal’s new fintech startup, Navi Technologies, was cheated out of ₹14.26 crore. Miscreants posing as customers managed to scam the Bengaluru-based startup out of the significant sum exploiting a bug in the system. (Also read: Flipkart co-founder’s fintech startup Navi cheated out of ₹14 crore scammers posing as customers) Recommended Topics News / Trending / ₹7 crore belonging to Swiggy misused for online betting, 23-year-old booked See Less
