Finance manager booked for ₹17.36 lakh embezzlement at Ahmedabad hotel

A finance manager has been booked for allegedly embezzling over ₹17 lakh from a hotel in the city by falsifying expense records and diverting company funds into personal and third-party bank accounts, police said.

The accused, identified as Deepak Kumar Arvind Sharma, was employed as Finance Manager at The Fern Residency near Subhash Bridge. The complaint was lodged by Akshay puri, General Manager of the hotel, with the Ranip Police Station.

According to police, Sharma was appointed on November 18, 2024, after completing the required recruitment formalities. He continued in the role until December 7, after which he allegedly left the job without notice and became unreachable.

Following his sudden departure, the hotel management conducted an internal audit of financial transactions during his tenure. The audit reportedly revealed significant irregularities in expense accounting and fund transfers.

Police said Sharma allegedly manipulated financial records by showing inflated or fictitious expenses and diverting payments meant for vendors and agencies. Instead of transferring the amounts to legitimate recipients, he is accused of routing funds into his own bank account and that of an associate.

The audit found that ₹8,14 lakh was misappropriated in cash through false expense claims, while ₹9.22 lakh was transferred to a friend’s bank account under the guise of business payments. The total alleged embezzlement amounts to ₹17.36 lakh

The complainant stated that the accused had abused his position of trust within the organisation to derive personal financial gain, causing a substantial loss to the hotel.

Based on the complaint, police have registered an offence under relevant provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, pertaining to cheating and criminal breach of trust.

Ranip police official said, “The accused misused his role as finance manager to siphon off company funds by creating false expenditure entries and diverting payments. Further investigation is underway to trace the money trail and identify any accomplices.”

Police have begun efforts to locate the accused and are examining bank records and transaction details as part of the probe.