In fresh worry for BharatPe co-founder and ex-CEO Ashneer Grover, the Economic Offences Wing (EOW) is looking into a possible fraud at BharatPe, the payment firm.
The investigation revealed questionable payments to supposed fake human resource consultancies by BharatPe's co-founder Ashneer Grover, his wife, and the former head of controls Madhuri Jain Grover, along with Madhuri Jain's family members, reported Mint.
The EOW is investigating BharatPe's co-founder Ashneer Grover for a possible money problem.
The report also mentions that Madhuri Jain, who used to be in charge of controls at BharatPe, received large amounts of money from her family.
She was fired in 2022 after an audit found problems.
The report also discloses that the registered addresses of the alleged eight HR firms are linked to family members or relatives of Madhuri Jain, Suresh Jain (father of Madhuri Jain Grover), and Shwetank Jain (brother of Madhuri Jain), according to Mint.
Ashneer Grover transferred around Rs 46 crore to his father's account between 2019 and 2022, according to the report.
Grover resigned as CEO in March 2022.
In a post from November 15, Grover mentioned that the investigation by the EOW is just starting.
I’ll be last man standing long after ‘BharatPe’ , Sequoia (oh sorry they already wrapped up in India), 2 takke ke anpadh press vaale and ‘Twitter’ judges are gone ! Mark my words !!— Ashneer Grover (@Ashneer_Grover) November 15, 2023
Le Honourable HC : FIR quashing admitted and being heard. Not a single relief to BharatPe in… pic.twitter.com/WV0Hf3JurE
Earlier this year, the EOW lodged a First Information Report (FIR) based on eight sections of the Indian Penal Code, including charges like criminal breach of trust, cheating, dishonesty, and forgery.
The FIR stemmed from a complaint filed by BharatPe's parent company in 2022, alleging the Grovers of engaging in wrongful activities such as generating counterfeit bills and involving nonexistent vendors to offer services to the company.