Pune Employee Booked For ₹2.45 Crore Corporate Fraud Using Fake CEO Emails

Employee Kaustubh Shivkumar Vibhute siphoned more than ₹2.45 crore from his company by sending fake emails impersonating the CEO, forging vouchers, and tampering with the ERP system.

He altered vendor bank account details in the company's system so payments meant for vendors were diverted to his own account, retaining original vendor names and invoice numbers.

The fraud occurred between June 11, 2024, and February 3, 2026, and was reported at Baner Police Station on July 20, 2026.

The company's finance department processed payments without independently verifying altered account details, believing CEO-authorized instructions in official emails.

A case was registered under the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act; investigation is ongoing.