Former Employee’s ₹1.64 Crore Fraud: Former Employee Causes ₹1.64 Crore Loss Using Clients’ Credit Cards
A Hyderabad company has reported a major fraud after a former employee allegedly misused client credit card details, making hundreds of transactions and booking flight tickets worth crores.
Former Employee’s ₹1.64 Crore Fraud: A major financial fraud has come to light in Hyderabad, where a former employee of a technology and business solutions company allegedly used clients’ credit card details after leaving his job.
According to the complaint, the accused, identified as Rishabh Jaggi from Madhya Pradesh, worked as a ticketing agent at Acube Business and Technology Solutions Private Limited. He joined the company in January 2025 but was reportedly removed from his position in March following concerns over his performance.
After leaving the company, Jaggi allegedly started his own travel agency. Police suspect that he had illegally obtained the details of nine credit cards belonging to individuals associated with one of the company’s partner organisations.
Investigators allege that the former employee then used the cards to carry out 386 fraudulent transactions. More than 70 flight tickets were reportedly booked using the stolen card information.
The transactions are estimated to have caused a financial loss of around ₹1.64 crore. The alleged misuse came to light after the affected parties noticed the transactions and the company was informed.
Company director Cheruku Anirudh Reddy subsequently approached the Cyber Crime wing of the Central Crime Station and filed a complaint. Based on the complaint, police registered a case and began investigating the transactions and the alleged misuse of the credit card information.
The investigation is expected to establish how the card details were obtained, where the money was spent and whether anyone else was involved in the alleged fraud.
