Gameskraft Files FIR Against Its CFO for Allegedly Losing Rs. 250 Crore in F&O Trading

Gameskraft Files FIR Against Its CFO for Allegedly Losing Rs. 250 Crore in F&O Trading

In a case that highlights the risks of financial misconduct at the highest levels of corporate governance, the real-money gaming company Gameskraft has filed a complaint against its former Chief Financial Officer (CFO), Ramesh Prabhu, alleging that he diverted the company’s funds into Futures and Options (F&O) trading, causing a loss of around Rs. 250 crore.

The FIR says, “Former Gameskraft CFO diverted company funds to F&O trading, incurring Rs 250 crore losses.”

In accordance with the FIR (First Information Report), Prabhu had been trading in Futures and Options (F&O) for nearly five years, without authorisation. Prabhu not only misused his financial powers but also systematically syphoned off corporate funds meant for business operations and growth, which led to heavy financial losses. Gameskraft has accused him of syphoning company funds during his role as the company’s CFO and reported the matter to the police.

Futures and Options (F&O) is a risky platform for trading that allows investors to bet on the future price movements of stocks and commodities. In this platform, the probability of gains is equal to that of losses. Sometimes, individuals generate high profits on this platform, which motivates them to further invest in it; however, many times, individuals even generate significant losses if the market moves unfavorably, which can lead to the development of negative thoughts in their minds.