Here is the shocking news that, The recent fraud at Paytm Mall, the e-commerce marketplace arm of Paytm, involved hundreds of sellers and tens of employees, said Paytm founder Vijay Shekhar Sharma here on Today.
Coming to more details, The fraud, which involved fake transactions between merchants and employees to make undue gains from cashback offers, is estimated to be to the tune of 10 crore, Sharma said on the sidelines of a press meet in Mumbai on Tuesday. "I don't know the (exact) amount but, it will be 10 crore for sure," said Sharma.
On Monday, media reported that the company had appointed consulting and audit firm EY to investigate the cashback fraud. The investigation has been going on for almost a fortnight and some employees have already been fired, it added.