Senior executive of investment firm booked for embezzling ₹1.18 Cr

When confronted by the firm’s director about suspicious transactions made by him, he to transferring company funds to his personal bank accounts and using corporate credit cards for personal expenses, said a police officer

MUMBAI: A senior executive of an investment consultancy firm in Andheri was booked on Thursday for allegedly embezzling ₹1.18 crore from the firm between December 2024 to July 2025.

Senior executive of investment firm booked for embezzling ₹1.18 Cr

According to the police, the accused, Pankaj Gupta, 41, joined Marseles Investment Managers Pvt. Ltd. in Andheri East in 2022 as the chief financial officer. He was entrusted with handling the financial transactions and also had access to corporate credit cards.

“During a routine check, the firm’s accounts team noticed some suspicious transactions made by him between December 2024 to July 2025,” said the complainant, Parimal Deuskar, chief legal advisor of the company. When questioned, Gupta allegedly gave evasive replies, after which the matter was escalated to the company’s director, Sudhanshu Nahata. When confronted by Nahata, Gupta reportedly confessed to transferring company funds to his personal bank accounts and using corporate credit cards for personal expenses, said a police officer.

Subsequently, the chief legal advisor of the company, Parimal Deuskar, approached the MIDC police and filed a complaint. A case has been registered against Gupta for cheating and criminal breach of trust under relevant sections of the Bharatiya Nyaya Sanhita.