Wipro ‘fraudster’ commits suicide

Anoop Agarwal, the employee who was allegedly responsible for a $4 million fraud at information technology firm Wipro Ltd, is believed to have committed suicide some time after the fraud came to light, sources have told Bloomberg UTV.

Agarwal had been working with the company for the past three years in the ‘controllership’ division within the finance department. This cell is responsible for keeping the company’s financial books and also has the powers to authorise payments whenever needed. The employee is believed to have embezzled about $4 million by stealing a password and transferring money from Wipro’s bank account.    

Sources say of the $4million embezzled, over $2.5million has been recovered from Agarwal and his family. Ernst & Young (E&Y) will review all fraudulent transactions at the firm.
Meanwhile, the Bangalore police is believed to be investigating the alleged suicide of Agarwal.

A Wipro spokesperson told Bloomberg UTV, “the company cannot share more information as it involves employee confidentiality and since police investigations are on”. The entire team that worked with Agarwal — six employees in all — have been sacked for negligence, sources added.