Authorities in Marathahalli have initiated an investigation, filing an FIR against the former Chief Financial Officer (CFO) of Gameskraft Technologies, a prominent Bengaluru-based gaming firm. The serious allegations involve the illicit diversion of over ₹270 crore of company funds for personal equity and derivatives trading spanning four years.
The complaint, lodged by Gulshan Yadav, the company’s assistant vice-president, led to the registration of a case last Tuesday. The accused, identified as Ramesh Prabhu, has been charged under Sections 316, 318, 335, 344, and 336 of the Bharatiya Nyaya Sanhita (BNS).
Given the staggering sum involved and the complexity of the allegations, a senior police official confirmed that the case is slated for transfer to the Criminal Investigation Department (CID) for a thorough and extensive probe. Ramesh Prabhu is currently at large, and a lookout circular is anticipated to be issued for his apprehension.
The financial irregularities first came to light on March 5 of this year. In an email addressed to the company, Prabhu reportedly confessed to misusing company funds for personal trading over the past three to four years. He estimated his losses from these unauthorized equity F&O (Futures & Options) trading activities to exceed ₹250 crore.
Prompted by this confession, Gameskraft Technologies launched an exhaustive internal review. This investigation uncovered that Prabhu had executed numerous unauthorized financial transactions, which were misleadingly recorded as legitimate investments within the company’s accounting books.
As a direct consequence of this elaborate scheme, the company was forced to declare a massive write-off of ₹270.43 crore in its financial statements for the fiscal year 2024-25. The complaint explicitly states that these transactions were carried out unilaterally and without proper authorization, constituting a severe breach of trust and financial integrity.