Police in Marathahalli have initiated an FIR against the former Chief Financial Officer of Gameskraft Technologies, a prominent Bengaluru-based gaming firm. He stands accused of embezzling over ₹270 crore from company funds, diverting them for his personal equity and derivatives trading over the last four years.
The case was formally registered last Tuesday following a complaint from Gulshan Yadav, an assistant vice-president at the company. The accused, identified as Ramesh Prabhu, faces serious charges under Sections 316, 318, 335, 344, and 336 of the Bharatiya Nyaya Sanhita (BNS).
Given the significant scale of the alleged fraud, a senior police official confirmed that the investigation would be handed over to the Criminal Investigation Department (CID) for a thorough inquiry. Ramesh Prabhu is currently at large, and authorities are preparing to issue a lookout circular to apprehend him.
The alleged misconduct came to light on March 5 this year when Prabhu himself confessed via email to the company, admitting that he had been illicitly using company capital for his own equity and derivatives trading for the past three to four years. He estimated his personal losses from this unauthorized Equity Futures & Options (F&O) trading to be over ₹250 crore.
Prompted by this confession, Gameskraft Technologies launched a comprehensive internal review. This investigation revealed that Prabhu had indeed conducted unauthorized financial transactions, misleadingly recording them as legitimate company investments in the financial records.
Consequently, the company was forced to write off a staggering ₹270.43 crore in its financial statements for the fiscal year 2024-25. The complaint highlights that these transactions were executed entirely without proper authorization and unilaterally by the accused.