Gameskraft wrote off ₹270 crore after its CFO's secret F&O trading went wrong

Gameskraft Technologies, the Bengaluru-based rummy company, filed a First Information Report against its former Group CFO Ramesh Prabhu, accusing him of diverting company funds into unauthorised futures and options (F&O) trading that caused losses of more than ₹250 crore over three to four years. According to the FIR, Prabhu sent a 'voluntary' confession email on 5 March 2025 admitting he had misused company funds without authorisation — then stopped showing up from 1 March and became unreachable.

A forensic audit found unauthorised trades of about ₹231.39 crore between FY2020 and FY2025, with roughly ₹211.53 crore booked in the corporate accounts as 'investments', carrying a book value of ₹250.57 crore as of 31 March 2024. The money moved through a bank account under Prabhu's sole control, with the transactions presented as legitimate investments; he allegedly also manipulated bank and mutual fund statements to cover the diversion. Gameskraft wrote off ₹270.43 crore in FY25.

Prabhu had been appointed CFO in 2018. The FIR lists charges under the Indian Penal Code including criminal breach of trust, theft, forgery, falsification of accounts and fraudulent concealment of property. The scandal landed on a company already fighting the government: Gameskraft's rummy business had collapsed under a change in tax rules in 2022.

₹270.43 crore written off in FY25; FIR under IPC charges including criminal breach of trust, theft, forgery and falsification of accounts.

The CFO both directed the money and recorded it, so 'investments' were whatever his entries said they were — no independent verification stood in the way.

Bank and mutual fund statements were allegedly forged, defeating the one control that would have exposed the personal account.

F&O losses compounded silently for years because the positions were booked at stated value, not marked to a broker statement.

One person controlling both the money and the books turns investments into a private trading account: dual sign-off and statement verification are cheaper than a ₹270 crore write-off.

Gameskraft wrote off ₹270.43 crore in FY25 and filed the FIR; Prabhu remained unreachable as of the September 2025 reports. The material records no arrest or recovery of funds.