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Goldman Sachs VP, ex-staffer held for siphoning off Rs 38.40 crore

Goldman Sachs VP, ex-staffer held for siphoning off Rs 38.40 crore

Posted On : Wednesday, September 11, 2019, 10:32 AM
A 36-year-old Vice President of global investment bank Goldman Sachs, Ashwani Jhunjhunwala along with another former employee Vedanth Rungta have been arrested after being accused of siphoning off $ 5.4 million (approx. Rs 38.40 crore) through fraudulent transactions, according to the Bengaluru police. The main suspect Jhunjhunwala, who has been working with the company as VP – Foreign Exchange and Equity Settlements, for the past four years, is accused of committing the fraud after incurring losses of more than Rs 50 lakh in online poker and was believed to have been aided in the fraud by the former employee Rungta.
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