Complaint alleges he stole over Rs 7 crore and also data

Cyber Crime officials on Sunday arrested a management consultant on the charges of siphoning off funds and stealing data belonging to an education group that runs a chain of schools in Dubai and Sharjah in the UAE.

The accused, Abhilash Rao Magavanna, 35, is a resident of Bharath Nagar in BEL Layout. Rao was arrested based on a complaint filed with the Indiranagar police by the representatives of IQRA Group, which is headquartered in Dubai. The police have seized 12 laptops, eight debit cards and one mobile phone — all worth over Rs. 7 lakh from the accused.

The complainant alleges that Abhilash had befriended the CEO of the company while studying at the Indian Institute of Technology (IIT)-Madras, gained his trust and joined IQRA Education as a management consultant.

Gaining the confidence of the management, he rose to the position of independent paid director (quality assurance) between 2014 and 2018 while operating from Bengaluru. During this period, he allegedly fabricated documents, opened a bank account and started diverting Rs. 7.5 crore from the company and also stole data belonging to the company.

Abhilash has been remanded in judicial custody.