Wipro completes embezzlement probe

Wipro completes embezzlement probe
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First Published: Fri, Feb 26 2010. 11 28 PM IST
Updated: Fri, Feb 26 2010. 11 28 PM IST
Bangalore: In a media statement, Wipro Ltd said that it has completed an internal investigation relating to embezzlement of funds by an employee. The company said that while the “matter should be taken seriously”, the amount involved was “not material from a financial reporting perspective given the size of the company”. Wipro said only one employee, a junior member of the controllership team, was found to have been involved. Some changes were made in some positions in the controllership team, even though “they were not involved in the embezzlement”, the company added.
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First Published: Fri, Feb 26 2010. 11 28 PM IST