Former co-founder of BharatPe, Ashneer Grover, along with his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain, have been accused of an alleged fraud of Rs 81 crore by the fintech unicorn.
The Delhi Police’s Economic Offences Wing (EOW) has filed an FIR against the accused under eight sections of the Indian Penal Code, including criminal breach of trust and cheating. BharatPe claims that the family caused damages through illegitimate payments, inflated and undue payments, sham transactions, and forged invoices. If convicted, they can face imprisonment of up to 10 years to life.
BharatPe has welcomed the registration of the FIR, stating that the company has been facing a malicious campaign by Grover for the last 15 months. The FIR will allow law enforcement agencies to investigate the criminality further and bring the culprits to justice. Last year, BharatPe filed a criminal complaint and a civil suit against Grover and his family, alleging fraud, conspiracy, cheating, forgery, and destruction of evidence.
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