Jamshedpur: A financial fraud has rocked the Agricultural Produce Market Committee (APMC) premises in Parsudih, where a trusted employee allegedly embezzled ₹44 lakh from a local oil trading firm. The incident has prompted a formal police investigation into the systematic theft that occurred over several months.
The Discovery of the Fraud
The victim, Sanjay Sharma, owner of the oil trading business, grew suspicious of financial discrepancies and ordered a comprehensive audit of his accounts. The audit revealed a massive shortfall, uncovering large-scale irregularities that pointed directly toward internal foul play.
Following the audit findings, Sharma lodged an official FIR at the Parsudih Police Station.
Modus Operandi: How the ₹44 Lakh Embezzlement Occurred
The accused has been identified as Arpit Rishi, a resident of Byangbil Hardtopa village in the Sundernagar area. Having worked at the shop for nearly five years, Rishi held a position of significant trust. His responsibilities included managing goods delivery, generating bills and maintaining official account registers.
According to police reports, Rishi exploited his access to the ledger to execute a sophisticated “fake billing” scam. Between February 20 and July 20, 2025, he reportedly diverted delivery goods to unauthorized locations and covered his tracks by submitting fraudulent bills. By maintaining the records himself, he successfully siphoned off an average of ₹9 lakh per month without immediate detection.
Police Action and Current Status
The fraud came to light only after the audit was initiated, at which point the accused reportedly stopped attending work and went into hiding.
“We have registered a case based on the victim’s statement and the audit report. The accused is currently absconding, but teams are working to track his location,” stated an official from the Parsudih Police Station.
Police are currently conducting raids in the Sundernagar area and surrounding localities to apprehend Arpit Rishi. Officials are confident of making an arrest soon as they verify the paper trail left by the fraudulent transactions.
