Deputy GM cheats Manipal firm of Rs 62 crore

The deputy general manager (corporate finance and treasury) of ManipalEducation and Medical Group (MEMG), his wife and two other women have been arrested for allegedly siphoning off Rs 62 crore from the privately-held conglomerate. Bengaluru Central division police identified SandeepGururaj, 38, who started his career as a management trainee and rose to the position of DGM. Deputy commissioner of police D Devaraja told reporter that the arrests were made following a complaint from MEMG CEOVaitheeswaranSabout financial irregularities in the company and the alleged involvement of an insider.