Former Executive Of FM Channel Arrested For Siphoning Off Over Rs 61 Lakh

Bhubaneswar: Commissionerate Police on Wednesday arrested a former employee of Red FM on the charge of misusing his position and siphoning off lakhs of rupees.

The accused, Subrat Samal was working as Senior Executive Finance and Administrator at 93.5 Red FM of Sun Group Limited from January 2, 2019, to December 28, 2022.

As per his job role, Samal was authorised to receive payments for advertisements from clients and deposit the same in the company’s bank account.

However, the accused opened an illegal bank account in the name of South Asia FM Limited at UCO Bank’s Ashok Nagar branch and with the intention of defrauding the company; he collected cheques from the customers for advertisement and deposited them in the said bogus account.

In this way, Samal managed to siphon off Rs 61,51,813 from South Asia FM Limited and used the said money to trade in the stock market.

On the basis of a complaint lodged at Kharvela Nagar police station by the Corporate Head of North East Red FM at 93.5 Red FM, Manash Pattanayak, police investigated that case and arrested the accused.

During the interrogation, the accused confessed to his crime, police said in a press note.