BharatPe Fraud: Ex-CEO Ashneer Grover And Family Made Fake Multi-Crore Invoices (image-instgaram/ashneer.grover)

In December 2022, BharatPe filed a complaint against Ashneer Grover, his wife and other family members, accusing them of perpetrating an amount of Rs 81.28 crore fraud. One of the allegation includes that BharatPe has allegedly paid an amount to eight HR consultants linked to the accused persons between 2018 and 2021.

• The Economic Offences Wing (EOW) has found that the recruitment firms linked to BharatPe Ex-CEO Ashneer Grover and his family members used backdated invoices to siphon off funds from BharatPe accounts.
• The registered addresses of all HR firms belongs to family members or relatives of Madhuri Jain, and her father Suresh Jain and brother Shwetank Jain.
• The EOW spotted that invoices raised by five of the HR firms contained bank account numbers that were opened after the date of the invoice.
• At least Rs 7.6 crores was paid to allegedly fake HR consultancies, while Rs 1.66 crores was paid as penalty to goods and service taxes (GST) authorities. And another Rs 71.76 crores was siphoned off via fictitious transactions.
• A total of over Rs 81 crore has been involved in the transaction, as per EOW.
• Ashneer Grover’s wife and company’s former head of controls Madhuri Jain Grover has received approximately about Rs 5 crore, Rs 3 crore and Rs 2 crore from her father Suresh Jain, mother Santosh Jain and brother Shwetank Jain.
• Similarly, a huge amount of Rs 46 crore was transferred from Ashok Grover’s father’s account from 2019 to 2022.
• EOW has filed an FIR earlier this year under the eight sections of IPC which included criminal breach of trust, cheating and dishonesty and forgery.
• The FIR was registered on the basis of a complaint BharatPe’s parent company Resilient Innovations had filed with the EOW against the Grovers back in 2022.
• Madhuri Jain was fired in 2022 after a forensic audit revealed several irregularities. And hence later, Ashneer Grover resigned from his CEO post in March 2022.