A city court has convicted a former depot manager of a private company in a criminal breach of trust and cheating case involving the alleged misappropriation of company stock worth ₹1.23 crore.The VIII Additional Chief Judicial Magistrate’s Court at Nampally convicted M. Veera Venkata Krishna Rao, a former depot manager with M/s 3F Industries Ltd., in a case investigated by the Chaderghat police.The court sentenced him to one year simple imprisonment and imposed a fine of ₹10,000 after finding him guilty under various provisions of the Indian Penal Code relating to criminal breach of trust, cheating, forgery and criminal intimidation.The case was registered in 2017 following a complaint by an authorised representative of the company, which alleged that the accused had diverted company stock while serving as depot manager.According to the police, an internal audit carried out during the company’s software migration uncovered a shortage of 12,910 units of stock valued at ₹1.23 crore.Investigators said that the accused generated unauthorised manual bills to divert stock without the management’s knowledge. Although he later executed indemnity bonds acknowledging liability, he allegedly failed to repay the amount, absconded from duty and threatened company officials.The police further said that he acquired personal assets, including properties and gold ornaments, using the misappropriated funds.Following the investigation and presentation of evidence by the Chaderghat police, the court convicted the accused. Published - July 23, 2026 07:57 pm IST