Hi,
One of my colleague, who is a CA, (referred to as employee hereafter for easy reference) made fraudulent invoices and embezzled cash from the Company Bank accounts. The account was operated by joint signatories. The employee was authorized to operate the bank accounts. Employee was caught and found guilty. The preliminary estimated amount of cash involvement was near to Rs. 19.50 Lacks for which the employee reimbursed the Company for Rs. 20 Lacks immediately from his personal bank accounts.
Now Company has appointed auditors to check the records of the Company for the tenure that the employee was employed. The employee was employed for 7 years with the Company. The employer feels that there may be such more transactions which may have taken place during the tenure of the employee.
Now, employee is under sheer pressure and seeks what action that may be taken against him and how he can minimize them.
Your early reply will be highly appreciated.
Asked 10 years ago in Civil Law
Hi,
Many thanks for your reply. The employee and his CFO were the joint signatories during the tenure of the employee. On realizing the scam, employee was terminated from the job instantly. CFO did not play any role in the scam. Now the Company may file an FIR against the employee. Kindly advice whether the employee has any recourse to save himself from the situation and to avoid any criminal and/or civil proceedings against him?
Asked 10 years ago
