Mumbai police have booked Pankaj Gupta, 41, the former Chief Financial Officer of Marcellus Investment Managers, a financial firm located in the Maharashtra Industrial Development Corporation (MIDC) area.
Gupta is alleged to have embezzled Rs 1.18 crore from the company, reportedly utilizing the funds for personal purposes. According to a police officer, these alleged activities transpired between December 2024 and July 2025.
Source: https://indianexpress.com/article/cities/mumbai/cfo-of-mumbai-financial-firm-lost-money-in-share-market-embezzled-10285254/