An employee of the Royal Insurance Corporation of Bhutan Limited (RICBL) is in custody on suspicion of misusing corporate funds. He manipulated documents and embezzled company money amounting to over one million which might increase after the investigation.
The supervisor of the general insurance department in the Thimphu head office was detained, after the corporation lodged the complaint to police on Wednesday.
It was found during their reconciliation of accounts for the year’s closing. He has also confessed to the crime.
