Man held for illegal and unauthorised share trading

New Delhi: Economic Offences Wing of Delhi Police has arrested one Ajay Oberoi for illegal and unauthorised share trading in his personal and family accounts and causing a loss of Rs 18.50 crore to a private company.Joint Commissioner of Police (EOW) OP Mishra said that one Exponential Financial Services Pvt. Ltd had appointed Oberoi as an accountant in the company and with time he became the operational head, principal officer of the company.

"It is alleged that Oberoi, in conspiracy with his associates, siphoned off the funds by illegal trading in the trading account of other alleged persons and caused loss to the company. He further sold the shares of other clients of the company without the permission of the company or the clients," he said. He has been accused of unauthorised trading in the company's account by forging the signatures of the directors on the cheques.