The Gurgaon police have booked the ex-managing director (MD) and chief operating operator (COO) of the Reebok India.
It is said in reports that the well-known shoe manufacturer company, Reebok, have MD and COO on charges of forgery, cheating and criminal breach of trust and causing a loss of almost Rs. 8,700 crore.
The FIR was logged on Sunday evening, charged former MD Subhinder Singh Prem and COO Vishnu Bhagat of well-organized funds during their tenure.
However, no arrests were made till Monday evening. In addition to this fraud, the employment contract of both of them terminated on March 26, 2012.
Reports have said that both were working with the company for around 16 years and have been accused of operating four secret warehouses in the national capital to keep clandestinely diverted and stolen stocks.
The Reebok Indian also announced that this fraudulent act had been done with the risk of jobs of around 40,000 workers involved directly and indirectly in the business of Reebok and Adidas group in India.
Moreover, the FIR registered states that in January 2012 Reebok India had noticed fraudulent act and conducted an internal inquiry.
Thereafter, the company found in its reports that the duo had been indulging in fraudulent activities over several years and was involved in well planned cheating as well as defrauding the company of hundreds of crores of rupees. The FIR also read that Reebok and Adidas Group had faced irreparable damage to its reputation.
In the meantime, the FIR was registered under section 406/408 (Criminal breach of trust)/418 (cheating with knowledge/467 (forgery of valuable security)/468 (forgery for cheating) /477A (falsification of accounts) and 120B (criminal conspiracy).
On the other hand, Reebok legal manager refused to comment on the issue.
