Moneyboxx Financial Discloses Rs 1.13 Cr Employee Fraud

Moneyboxx Financial Services Limited uncovered fraud by former Senior Finance Manager Mr. Rahul Kumar, who executed unauthorized fund transfers via the KODO expense management software for personal gain over recent months.

Fraud Details

The misappropriation totals approximately Rs 1,13,33,000, with an estimated impact of Rs 96 lakhs. Following internal investigation, the company terminated his employment, implemented disciplinary action, and filed a police complaint at the jurisdictional station.

Response Measures

Moneyboxx has launched legal proceedings for fund recovery and enhanced internal controls to prevent recurrence while upholding corporate governance standards.

Shares of Moneyboxx Finance Ltd was last trading in BSE at Rs. 67.82 as compared to the previous close of Rs. 68.26. The total number of shares traded during the day was 2844 in over 157 trades.

The stock hit an intraday high of Rs. 69.26 and intraday low of 66.21. The net turnover during the day was Rs. 191069.00.

Source : Equity Bulls

Keywords

MoneyboxxFinance INE296Q01012 NBFC EmployeeFraud