Three CMR Family Mall staffers accused of cheating firm of Rs 5.83 crore
HYDERABAD: CMR Family Mall has filed a complaint against three of its employees for allegedly cheating the company of Rs 5.83 crore between 2020 and 2024. The complaint was lodged by MD of Chandana Brothers Textiles and Jewelers Pvt Ltd Allaka Sunitha Kumari with the CCS police. CMR Family is one of the branches of Chandana Brothers.
Two accused in the case, Naidu Simhachalam and Nalla Veerabhadra Rao worked in the gold jewellery section of the mall.
According to the complaint, for the past four years, the gold jewellery section made no profits raising suspicions. As a result, the financial transactions of the gold jewellery section of CMR Family mall were audited.
During the audit, it was found that Simhachalam and Veerabhadra Rao were responsible for handling financial accounts in both companies. G Bhupathiraju, whose main responsibility was to check the company’s accounts, was also involved.
Further inquiries revealed that Bhupathiraju conspired with the duo and engaged in fraudulent gold jewellery transactions from 2020 onwards, causing financial loss to the company.