BharatPe Fraud Case: The Economic Offences Wing (EOW) of Delhi Police has arrested Deepak Gupta, a relative of Ashneer Grover, the former Managing Director and co-founder of fintech company BharatPe. Gupta is accused of involvement in the alleged misappropriation of funds from the company and is expected to be presented before the Chief Judicial Magistrate (CJM) at Saket Court.
Deepak Gupta, who is the husband of Madhuri Grover’s sister, was taken into custody late on the night of September 19. Madhuri Grover, wife of Ashneer Grover, previously held the position of Head of Controls at BharatPe but was terminated from the company.
Delhi Police Economic Offences Wing (EOW) arrested Deepak Gupta, a family member of Ashneer Grover, the former Managing Director and co-founder of BharatPe, in connection with allegations of misappropriating funds from the fintech company. Gupta will be presented before the Chief…
— ANI (@ANI) September 20, 2024
The arrest comes as part of an ongoing investigation after BharatPe filed a criminal complaint in December 2022. The complaint named five individuals, including Ashneer Grover, his wife Madhuri Grover, Shwetank Jain (Madhuri’s brother), Suresh Jain (Ashneer’s father-in-law), and Deepak Gupta (Ashneer’s brother-in-law). In May 2023, the EOW registered a First Information Report (FIR) against the accused in connection with a Rs 81-crore fraud case.
Last month, the EOW made its first arrest in the case, apprehending Amit Kumar Bansal, who allegedly operated non-existent firms that received Rs 72 crore in payments from BharatPe between 2019 and 2021.
BharatPe has accused Ashneer Grover and his family of causing financial losses of approximately Rs 81.3 crore. The allegations involve fraudulent payments to bogus human resource consultants, inflated payments to pass-through vendors connected to the accused, fake transactions for input-tax credit, and illegal payments to travel agencies.
Additionally, the company claims that invoices were forged by Shwetank Jain and that evidence was destroyed as part of the cover-up. The investigation is ongoing.
