<p>An astonishing case of financial crime has surfaced at ManpowerGroup Service Private Limited, a Delhi-based recruitment company. A long-term employee, Radhaballav Nath, allegedly devised a sneaky plan to deceive the company by fraudulently placing his unemployed wife on the payroll. This manipulation continued for more than a decade, resulting in massive losses amounting to crores for the firm.</p>

<p>In December last year, the company became suspicious of manipulated records and initiated an internal investigation.</p>

<p>The inquiry confirmed the fraudulent activity, leading the company to take decisive action. Last week, they filed a First Information Report (FIR) with the Delhi Police, launching a further investigation into the matter.</p>

<h2><strong>Modus operandi of scheme</strong></h2>

<p>Nath, employed at ManpowerGroup since 2008, held the positions of Assistant Manager (Finance) and later Manager (Finance). He acted as a crucial link between the company's outside payroll vendor and various departments like HR and finance. With access to the monthly payroll and reimbursement data limited to only three officers, Nath took advantage of his position.</p>

<p>Every month, the payroll vendor would prepare the pay register based on data provided by Nath. This register would then pass through the Director (HR) and the Chief Human Resource Officer (CHRO) for approval before being sent back to Nath for the final step of salary release to the bank.</p>

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<p>It was at this final stage that Nath allegedly tampered with the data, surreptitiously inserting his wife's name, Sasmita Raul, and assigning her a salary amount.</p>

<p>He also manipulated his own salary figures. Once the manipulated payroll file was uploaded to the bank portal by Nath, all employees' salaries, including his wife's, were transferred accordingly.</p>

<h2><strong>Fraudulent transactions</strong></h2>

<p>Upon conducting an internal investigation, the company discovered that Nath had been uploading the manipulated payroll file using another employee's computer system. After completing the process, he would delete the file from the system to cover his tracks.</p>

<p>Following his suspension on 11 December, 2022, Nath was summoned before an internal committee to explain the discrepancies.</p>

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<p>"Mr Radhaballav Nath was suspended on December 11, 2022, and an internal committee was constituted by ManpowerGroup, which sought his presence to explain the discrepancy noted in the team meeting dated December 8, 2022," the FIR said.</p>

<p><strong>Watch | UK: Health agency report shows slight increase in hospital admission</strong></p>

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<p>Confronted with the evidence, he confessed to illegally transferring ₹3.6 crore ($500,000) to his wife's bank account starting in 2012. Additionally, he admitted inflating his own salary and transferring ₹60 lakh&nbsp;(over $73,000) to his account over the years, leading to a total loss of ₹4.2 crores for the company.</p>

<h2><strong>Confession&nbsp;</strong></h2>

<p>In his confession, Nath disclosed that he utilised the embezzled funds to acquire properties in Delhi, Jaipur, and his hometown in Odisha. He also invested in mutual funds and other financial schemes.&nbsp;During the internal investigation, ManpowerGroup confirmed that they had never employed Radhaballav Nath's wife in any capacity.</p>

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An astonishing case of financial crime has surfaced at ManpowerGroup Service Private Limited, a Delhi-based recruitment company. A long-term employee, Radhaballav Nath, allegedly devised a sneaky plan to deceive the company by fraudulently placing his unemployed wife on the payroll.

An astonishing case of financial crime has surfaced at ManpowerGroup Service Private Limited, a Delhi-based recruitment company. A long-term employee, Radhaballav Nath, allegedly devised a sneaky plan to deceive the company by fraudulently placing his unemployed wife on the payroll. This manipulation continued for more than a decade, resulting in massive losses amounting to crores for the firm. In December last year, the company became suspicious of manipulated records and initiated an internal investigation. The inquiry confirmed the fraudulent activity, leading the company to take decisive action. Last week, they filed a First Information Report (FIR) with the Delhi Police, launching a further investigation into the matter. Modus operandi of scheme Nath, employed at ManpowerGroup since 2008, held the positions of Assistant Manager (Finance) and later Manager (Finance). He acted as a crucial link between the company's outside payroll vendor and various departments like HR and finance. With access to the monthly payroll and reimbursement data limited to only three officers, Nath took advantage of his position. Every month, the payroll vendor would prepare the pay register based on data provided by Nath. This register would then pass through the Director (HR) and the Chief Human Resource Officer (CHRO) for approval before being sent back to Nath for the final step of salary release to the bank. Also Read | Bhutan's roaring success in Tiger conservation grows spotlight with latest numbers It was at this final stage that Nath allegedly tampered with the data, surreptitiously inserting his wife's name, Sasmita Raul, and assigning her a salary amount. He also manipulated his own salary figures. Once the manipulated payroll file was uploaded to the bank portal by Nath, all employees' salaries, including his wife's, were transferred accordingly. Fraudulent transactions Upon conducting an internal investigation, the company discovered that Nath had been uploading the manipulated payroll file using another employee's computer system. After completing the process, he would delete the file from the system to cover his tracks. Following his suspension on 11 December, 2022, Nath was summoned before an internal committee to explain the discrepancies. Also Read | Song about 'going to prison' plays as Trump takes to stage in rally "Mr Radhaballav Nath was suspended on December 11, 2022, and an internal committee was constituted by ManpowerGroup, which sought his presence to explain the discrepancy noted in the team meeting dated December 8, 2022," the FIR said. Watch | UK: Health agency report shows slight increase in hospital admission × Confronted with the evidence, he confessed to illegally transferring ₹3.6 crore ($500,000) to his wife's bank account starting in 2012. Additionally, he admitted inflating his own salary and transferring ₹60 lakh (over $73,000) to his account over the years, leading to a total loss of ₹4.2 crores for the company. Confession In his confession, Nath disclosed that he utilised the embezzled funds to acquire properties in Delhi, Jaipur, and his hometown in Odisha. He also invested in mutual funds and other financial schemes. During the internal investigation, ManpowerGroup confirmed that they had never employed Radhaballav Nath's wife in any capacity. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Indian man sneakily puts unemployed wife on payroll for over a decade, defrauds company of millions

<p>The <a href="https://www.wionews.com/world/italy-readies-web-tax-in-its-2020-budget-sources-255911">euro </a>was steady against the dollar on Friday, though the greenback was headed for its worst week since mid-October, dragged down by nervousness around US-China trade relations and hints of weakness in the US&nbsp;economy.</p>

<p>The resurgent kiwi enjoyed a hefty recovery thanks to some renewed risk appetite, as well as due to positive domestic factors.</p>

<p>Against a basket of six currencies, the greenback fell to a one-month low of 97.355. The euro was last flat at $ 1.1106.</p>

<p>Sterling was 0.2 per cent&nbsp;weaker at $1.3132 and 84.58 pence against the euro&nbsp;but parked close to a 2-1/2-year high as traders grow more confident the uncertainty over Brexit could soon be over.</p>

<p>Opinion polls suggest the Conservative Party of Prime Minister <a href="https://www.wionews.com/world/uk-pm-boris-johnson-rejects-calls-for-no-deal-brexit-in-election-pitch-259559">Boris Johnson</a> is on course for a majority on December 12 to push through the Brexit deal he struck with the EU after the bloc granted a third delay to a divorce that was originally supposed to have taken place at the end of March.</p>

<p>US&nbsp;President <a href="https://www.wionews.com/business-economy/global-stocks-rattled-after-donald-trump-says-no-deadline-on-us-china-trade-deal-266025">Donald Trump</a> remained upbeat overnight on trade and said talks are "moving right along" and that "we'll have to see" about the increase in tariffs that are scheduled to take place on December&nbsp;15.</p>

<p>But markets were unconvinced, with worries stemming from a lack of similar enthusiasm from China, keeping the dollar subdued.</p>

<p>Chinese officials reiterated their stance that some US&nbsp;tariffs must be rolled back for a deal to end the 17-month trade war between the two powers, something Washington has given no sign of doing.&nbsp;</p>

<p>Still, risk sentiment recovered somewhat, pushing the New Zealand dollar to a four-month high of 0.6568 against the US&nbsp;dollar.</p>

<p>"My guess and it’s just a guess is that the rally in NZD may have started with a recovery in risk sentiment" driven by Trump's comments, said Marshall Gittler, strategist at ACLS Global, noting the kiwi tracked the safe-haven Japanese yen's performance on Thursday.</p>

<p>The currency also got a boost from Reserve Bank of New Zealand Deputy Governor Geoff Bascand saying in a Bloomberg interview that the latest economic&nbsp;developments are "supportive of the story that we’re near or around that turning point" in the economic cycle, Gittler said.</p>

<p>US&nbsp;non-farm payrolls data due at 1330 GMT comes after dismal numbers showed weak private payrolls, soft services activity, and a shrinking manufacturing sector.</p>

<p>A Reuters poll shows a forecast of 180,000 jobs being added in November, and a miss might leave the Fed reconsidering its wait-and-see mode when the committee meets on Tuesday and Wednesday.</p>

<p>"Markets are in a highly fragile condition at the moment," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.</p>

<p>"So there is a greater potential for an exaggerated move if we see a big divergence from expectations," he said. "The risk is in both directions&nbsp;below 150,000 or above 210,000 we could see a significant market reaction."</p>


The euro was steady against the dollar on Friday, though the greenback was headed for its worst week since mid-October, dragged down by nervousness around US-China trade relations and hints of weakness in the US economy.

The euro was steady against the dollar on Friday, though the greenback was headed for its worst week since mid-October, dragged down by nervousness around US-China trade relations and hints of weakness in the US economy. The resurgent kiwi enjoyed a hefty recovery thanks to some renewed risk appetite, as well as due to positive domestic factors. Against a basket of six currencies, the greenback fell to a one-month low of 97.355. The euro was last flat at $ 1.1106. Sterling was 0.2 per cent weaker at $1.3132 and 84.58 pence against the euro but parked close to a 2-1/2-year high as traders grow more confident the uncertainty over Brexit could soon be over. Opinion polls suggest the Conservative Party of Prime Minister Boris Johnson is on course for a majority on December 12 to push through the Brexit deal he struck with the EU after the bloc granted a third delay to a divorce that was originally supposed to have taken place at the end of March. US President Donald Trump remained upbeat overnight on trade and said talks are "moving right along" and that "we'll have to see" about the increase in tariffs that are scheduled to take place on December 15. But markets were unconvinced, with worries stemming from a lack of similar enthusiasm from China, keeping the dollar subdued. Chinese officials reiterated their stance that some US tariffs must be rolled back for a deal to end the 17-month trade war between the two powers, something Washington has given no sign of doing. Still, risk sentiment recovered somewhat, pushing the New Zealand dollar to a four-month high of 0.6568 against the US dollar. "My guess and it’s just a guess is that the rally in NZD may have started with a recovery in risk sentiment" driven by Trump's comments, said Marshall Gittler, strategist at ACLS Global, noting the kiwi tracked the safe-haven Japanese yen's performance on Thursday. The currency also got a boost from Reserve Bank of New Zealand Deputy Governor Geoff Bascand saying in a Bloomberg interview that the latest economic developments are "supportive of the story that we’re near or around that turning point" in the economic cycle, Gittler said. US non-farm payrolls data due at 1330 GMT comes after dismal numbers showed weak private payrolls, soft services activity, and a shrinking manufacturing sector. A Reuters poll shows a forecast of 180,000 jobs being added in November, and a miss might leave the Fed reconsidering its wait-and-see mode when the committee meets on Tuesday and Wednesday. "Markets are in a highly fragile condition at the moment," said Michael McCarthy, chief market strategist at CMC Markets in Sydney. "So there is a greater potential for an exaggerated move if we see a big divergence from expectations," he said. "The risk is in both directions below 150,000 or above 210,000 we could see a significant market reaction."

Euro steady as US dollar set for worst week since October

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