Special police team to probe Reebok India fraud

Gurgaon, May 23 (IANS) A Special Investigation Team (SIT) has been set up in Gurgaon to look into a complaint about a multi-crore-rupee fraud in sporting goods company Reebok India, police said Wednesday.

A complaint was lodged by the company Sunday night against two former employees of the company for forgery, cheating, criminal conspiracy and criminal breach of trust.

Assistant Commissioner of Police (Crime) Rajesh Phogat would head the SIT that would probe the allegations of fraudulent activities against Reebok India's former managing director Subhinder Singh Prem and chief operating officer Vishnu Bhagat, an official said.

Cyber crime experts and officers from the economic offences wing would also assist the team, he said.

According to police, Prem and Bhagat served in the company for over 15 years before being removed March 26.

The company in its complaint filed with police said that in an internal inquiry it was established that the duo had been indulging in fraudulent activities over several years and were involved in cheating and defrauding the company of hundreds of crores of rupees.

Deputy Commissioner of Police (East) Maheshwar Dayal told IANS that the exact amount of money involved in the suspected fraud would be known only after investigation.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    110.300.35+0.32%
    HINDALCO.BO
    60.656.60+12.21%
    ADANIPOWER.BO
    58.65-2.40-3.93%
    HDIL.BO
    81.000.35+0.43%
    RPOWER.BO
    29.10-1.20-3.96%
    UNITECH.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    518.2081.75+18.73%
    ASTRAL.BO
    17.002.50+17.24%
    KRYPTONQ.BO
    393.0056.85+16.91%
    AMRITCORP.BO
    20.752.70+14.96%
    LOKESH.BO
    302.4037.50+14.16%
    SREEL.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    502.550.00+0.00%
    INDUSINDSL.BO
    14.50-3.50-19.44%
    CORDS.BO
    62.50-15.00-19.35%
    EMMSONS.BO
    203.25-46.55-18.63%
    OSCAR.BO
    9.86-2.14-17.83%
    KSERASERA.BO

Latest News

MAJOR STOCKS (A-G)

MAJOR STOCKS (H-N)

MAJOR STOCKS (O-Z)

MARKET COMMENTARY

  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.