Hyderabad, March 12 -- The Charminar police arrested a 22-year-old employee of a textile company, Ram Swaroop, for embezzling approximately Rs 70 lakh from his employer, Rajlaxmi Textiles (India) Pvt Ltd, on March 12.

The arrest followed a complaint lodged by the company's director, Jairam Dewasi, who reported the fraudulent activities of Swaroop, who served as a cashier and billing operator at the firm.

The police apprehended Swaroop based on credible information and during interrogation, he confessed to using part of the embezzled funds to purchase a country-made pistol and five live rounds for Rs 40,000 from an accomplice, Mohan Ram, who is currently absconding.

Additionally, Swaroop admitted to buying two iPhones with the misapprop...