MUMBAI, Oct. 5 -- An employee working with a corporate gifting firm, who allegedly cheated his firm to the tune of Rs.5.72 crore, was arrested on Thursday. The police registered a case of cheating and forgery on September 19 based on a complaint by Naresh Jain, 49, a resident of Goregaon East who runs the firm in Goregaon East. The accused, Sunil Gupta, 44, is a resident of Malad. He met Jain in 2022 and expressed interest in working with him. Jain inquired with other professionals about Gupta and got a positive report of his work. So Jain started a business for Gupta in 2022. In August 2024, Gupta said he had received orders from Macleods Pharmaceuticals, Andheri East, a police officer said. The company arranged for 3,400 gold coins, each weighing 1 gram, worth Rs.2.46 crore, which Gupta seemed to have facilitated legitimately. However, only part-payment was made. In January this year, Gupta said the same company required 3,600 gold coins, valued at Rs.3.17 crore, for corporate gifting. He produced a purchase order from the pharma company to gain Jain's confidence. Jain delivered them to Gupta outside the company, like the first time. "However, no payment was made for the gold coins this time," the officer said. Gupta confessed he used all the gold coins for his personal use and that there were no orders. He promised to return the money in three months. The complainant accepted this and contacted him in July, but Gupta refused to return the money, as per the complaint.Vinay Dalvi...