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Dec 14, 2012
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Reebok India stands by its Rs 870-cr fraud allegations
Even as a Gurgaon police investigation into the alleged fraud in Reebok India point to a loss to the company of Rs 11.3 crore, the sportswear maker reiterated its earlier claim that wrongdoing by two former top executives caused the firm a loss of Rs 870 crore.
The probe, by a special investigation team (SIT) of the police, says that former managing director Subhinder Singh Prem and former Chief Operating Officer (COO) Vishnu Bhagat had only caused a loss to the company worth Rs 11.3 crore, while the money made by the duo for themselves was much less.
Source -
http://www.business-standard.com
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