Pune: In a shocking revelation, Strider Pvt. Ltd., a bicycle manufacturing company located in Baner, has fallen victim to a major fraud amounting to Rs 5 lakh 75 thousand. The alleged wrongdoings transpired under the purview of the company’s bicycle showroom, and a case has been formally registered against the store manager at the Chaturshringi police station.
Pramod Omprakash Shukla, a resident of Thane, brought the matter to light by filing a complaint on Monday (25th) at the Chaturshringi police station. The accused, identified as Srinivas Vitthalrao Sugaokar, aged 35 and residing in Manjri Budruk, held the position of store manager at Strider Pvt. Ltd.
The police disclosed that Sugaokar, entrusted with the responsibilities of managing the Baner showroom, allegedly executed a scheme to defraud the company. Between April and December 2023, he purportedly sold 60 cycles belonging to the company, totalling Rs 5 lakh, 70 thousand. However, instead of depositing the proceeds into the company’s account, the accused allegedly syphoned off this amount to his personal account.
Moreover, it has been reported that Sugaokar went further by selling company spare parts, including tyres, bells, seats, pandals, rims, etc., accumulating an additional sum of Rs 5 thousand, which he also allegedly redirected to his personal account. The cumulative embezzlement is estimated at Rs 5 lakh, 75 thousand.
The case has been registered under Section 408 of the Indian Penal Code (IPC), which pertains to criminal breach of trust by a clerk or servant.
