FIR against BharatPe's Ashneer Grover, family for Rs 81 cr alleged fintech fraud

The Economic Offences Wing of the Delhi Police has filed an FIR against former Bharat Pe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain for an alleged Rs 81 crore fraud after a complaint by the fintech unicorn.

The FIR was filed under eight sections of the Indian Penal Code, including 406, that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery).

BharatPe in the complaint alleged that Grover and his family caused damages of about Rs 81.3 crore through illegitimate payments to bogus human resource consultants, inflated and undue payments through passthrough vendors connected to the accused, sham transactions in input tax credit and payment of penalty to GST authorities, illegal payment to travel agencies, forged invoices by Madhuri Jain and destruction of evidence. If convicted, Grover, Madhuri and others can face up to anything between 10 years to life imprisonment. EOW now has the power to arrest all the accused.