“Chennai photo studio chain hit by Rs 20 crore scam; 3 arrested for fraud and recovery of assets!”

Three individuals, among them a key accounts official at a photo studio chain in Chennai, have been apprehended for engaging in a significant scam amounting to Rs 20 crore using counterfeit invoices. The illicit activities came to light following an internal audit conducted by the company. Confiscated from the perpetrators were assets totaling Rs 1 crore. Subsequently, they have been placed in judicial custody. This incident sheds light on the importance of robust internal auditing processes in preventing fraudulent activities within businesses.

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