India, April 15 -- A senior finance official at a Ghansoli MIDC-based company has allegedly misappropriated Rs.3.51 crore, with the fraud coming to light after vendors highlighted that their dues had not been paid. The accused, who served as the firm's head of finance, is currently absconding.

The Economic Offences Wing (EOW) of the Navi Mumbai police has registered a case of cheating and criminal breach of trust against him at Rabale MIDC police station.

The fraud surfaced when several vendors informed the company that their payments had not been credited. Suspecting discrepancies, the company initiated an internal probe along with a forensic audit, which revealed large-scale financial manipulation.

Investigations revealed that the ac...