Police in Jaipur have arrested an accused in an alleged IT fraud case involving financial fraud of more than Rs 2 crore, data theft and the creation of a fake company to mislead clients.
Malviya Nagar police arrested accused Jitendra Jain and produced him before a court, which sent him to judicial custody. Two other accused, identified as Sandeep Agrawal and Ajit Jain, are currently absconding.
Complainant Arun Goyal alleged in a police report that former employees of his IT company misused the trust placed in them and carried out a planned fraud.
According to the complaint, the accused had worked in senior positions in the company for a long period and had special access to confidential data, software systems and client networks.
The complaint stated that the accused allegedly used this access to plan and establish a similar business operation.
According to the police investigation, the accused allegedly formed a new company under the name “Invent Collapse Infotech Private Limited”.
Investigators alleged that family members and relatives were appointed as directors and used as “dummy directors”. Agencies suspect that the structure was created to take control of the original company’s clients and business operations.
According to the FIR, the accused allegedly obtained confidential software, technical data and client information belonging to the original company illegally and used it for the new company.
The complainant alleged that clients were misled into believing that payments should be transferred to the accounts of the new company.
The alleged conspiracy caused financial losses of more than Rs 2 crore to the company.
The complaint also referred to international financial transactions. According to the complaint, around $45,000 was allegedly transferred by a foreign client to other accounts.
Police suspect that the transaction may have been carried out using fake documents and misleading information.
Investigating agencies are examining whether other individuals were involved in the network and whether international banking channels were misused for the transactions.
Arun Goyal also alleged that he received threats after he contacted the accused seeking clarification regarding the matter.
Police have included these allegations in the case and are examining digital communication records, call details and financial documents.
Malviya Nagar police have registered a case under the Information Technology Act and other criminal provisions.
Investigators said the case involves allegations related to cybercrime, financial fraud, data theft, criminal conspiracy and forgery, and that all aspects are being examined in detail.
Police said digital forensic experts are also examining electronic data and server records as part of the investigation.
Following his arrest, Jitendra Jain was produced before a court, which remanded him to judicial custody after a preliminary hearing.
Police said raids are continuing to locate absconding accused Sandeep Agrawal and Ajit Jain and efforts are underway to arrest them.
The case has highlighted concerns related to insider fraud and data security risks in the corporate sector.
According to experts, employees working in IT companies often have access to sensitive client data, software systems and financial information. Weak security protocols can expose companies to financial and reputational losses.
The case reported in Jaipur has also raised questions regarding data protection and cybersecurity.
Experts said companies need to strengthen not only technical security measures but also internal monitoring and employee verification processes.
They added that regular monitoring of financial transactions and client communications can play an important role in preventing such incidents.
