Accountant at Mumbai School Siphons Off ₹1.44 Crore through 45 Fake Refunds, FIR Registered

A deputy manager (accounts) at a well-known chain of schools in Mumbai has been accused of misusing school funds worth Rs. 1.44 crore. This came to light when the school’s head of accounts filed a complaint at Bangur Nagar police station on July 6, 2025.

According to The Times of India, the deputy manager was in a senior position and had control over the financialsystem. He allegedly created 45 fake transactions, showing them as “fee refunds” for students who had supposedly left the school mid-term but these students did not exist in the school’s records. Using this method, he transferred money to two individuals, Ms. Shaikh and Ms. Kewath, as well as to his own bank account.

The deputy manager was the only person with access to the computer and files related to payments, allowing him to make these transactions without being caught for a long time. The junior accountant who normally handled refunds was not involved, indicating the deputy manager acted alone.

During a routine check of refund transactions, the head of accounts noticed mismatches between the refund list and the actual student records. They quickly conducted a deeper audit, which uncovered the fraudulent transactions, leading to the complaint with the police.

The police have registered an FIR and are investigating under laws related to cheating, criminal breach of trust, and forgery. They are tracing where the money went and checking if others were involved or if the accused used other bank accounts to hide the funds.

The name of the school and the current status of the accused (arrested or absconding) are not revealed yet. It is also unclear if the school has managed to recover any of the lost money.

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