Indian entrepreneur Ashneer Grover and his wife Madhuri Jain have been summoned by Delhi Police’s Economic Offences Wing (EOW) over alleged fraud at fintech giant BharatPe.
Ashneer Grover co-founded the company and also served as its Managing Director (MD), before stepping down in late February 2022.
BharatPe accused Grover and his family of causing damages to the company worth Rs 81 crore ($9.7 million).
In this case, an FIR was filed against Grover, Jain and their family members, including Deepak Gupta, Suresh Jain and Shwetank Jain in May.
However, it was only on Friday (Nov 17) that Grover realised the EOW had issued a lookout circular against him and his family members, which led the immigration officials to block their departure from Delhi’s Indira Gandhi International Airport.
The former BharatPe boss was reportedly travelling to the US for vacation when the couple was stopped.
Allegations against Grover and family
Grover allegedly used backdated invoices to move funds from BharatPe’s accounts for payment of commissions for recruitment work, according to a status report filed by the EOW in the Delhi High Court.
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He is also accused of paying Rs 7.6 crore to fake firms. Also, he allegedly embezzled cash worth Rs 71.76 crore. Additionally, Rs 1.66 crore was paid as a penalty to GST authorities.
If found guilty under these charges, the Grover couple could face a jail term from 10 years to life imprisonment. Grover now runs CrickPe, a fantasy sports app.
Ashneer Grover in a post on X said he has received the EOW summon and will cooperate with the authorities “as always.”
“I had not received any communication or summon from EoW since FIR in May, till 8 am today (November 17)… 7 hours after returning from airport,” he wrote in the X post.
“At immigration, they said, ‘LoC laga hua hai sir – EOW se check kar ke batate hai (There is a LoC, sir… we will check with EoW and let you know)’.”
“I found it strange as (I) have travelled four times internationally since (the) FIR (was) filed in May – (there has) never been a problem… I had not even been summoned once.”
(With inputs from agencies)