Bangalore: In what seems like a replica of the HSBCNadeem Kashmiri case, an employee of Lifestyle International Private Ltd cheated the company of Rs 57.90 lakh. The accused S Harikrishnan (32), a manager in charge of payments to vendors, hacked into the master data system and siphoned off the money between January 2005 and April 9, 2007. When he was questioned about discrepancies in various transactions, he resigned on April 10, 2007 to evade further inquiry. The company officials realised the extent of the fraud while dealing with some payments recently. He is now absconding. Being the manager-payable, he had complete responsibility of making payments to various vendors of the company, after verifying the relevant records relating to the receipt of goods at the warehouse.
Harikrishnan altered email addresses, vendor master data system, and instructed his subordinates and other executives of the company accordingly. He created a bogus agency ‘Annai Agencies’ and diverted the funds to it. From there he forwarded the money to his personal accounts. When he was questioned, he resigned stating that he was not happy with the increment given to him. He then stopped attending office from April 12, 2007, without any notice.
Harikrishnan joined the company in Chennai in May 1999. He moved to Oman in September 2002 and worked with Landmark Group, Oman till April 2004. He rejoined Lifestyle in May 2004 as accounts executive and then shifted to Bangalore. He was responsible for handling trade payables of the company. He handled Lifestyle International’s trade payments up to January 15, 2007.
The company’s vice-president (human resources and administration), Ranjan Jain registered a complaint with the Cyber Crime Police Station on April 24, 2007, after a thorough internal enquiry. A case of criminal breach of trust, forgery, fraud, cheating and misappropriation has been registered. Police are on the lookout for the accused, who is a native of Anna Nagar, Chennai.
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