Ashneer Grover’s Brother-in-Law Arrested by Economic Offences Wing in BharatPe Fraud Case
Ashneer Grover's Brother-in-Law Arrested by Economic Offences Wing in BharatPe Fraud Case
Deepak Gupta, a key family member, detained in ongoing Rs 81-crore misappropriation investigation.
In a significant development in the BharatPe fraud case, Deepak Gupta, brother-in-law of former BharatPe Managing Director Ashneer Grover, has been arrested by the Economic Offences Wing (EOW) of Delhi Police. Gupta, the husband of Madhuri Grover’s sister, was taken into custody on the night of September 19 and is currently being held at Mandir Marg Police Station. Sources indicate that Gupta will be produced in front of the Chief Judicial Magistrate (CJM) at Saket Court today, where police are expected to request his remand.
BharatPe, a leading fintech unicorn, filed a criminal complaint in December 2022 against Ashneer Grover, his wife Madhuri Grover and several family members, including Deepak Gupta, Madhuri’s brother Shwetank Jain and her father Suresh Jain. The company accused them of causing financial losses of Rs 81.3 crore through various fraudulent activities.
These allegations include:
- – Illegitimate payments to bogus HR consultants.
- – Inflated payments to vendors connected to the accused.
- – Fake transactions to claim input-tax credit.
- – Forged invoices and destruction of evidence.
- – Undue payments made to travel agencies and GST penalties.
In May 2023, the EOW registered an FIR against Ashneer Grover and his family, marking the beginning of a thorough investigation into the alleged misappropriation of BharatPe’s funds.
Last month, Amit Kumar Bansal, an alleged member of one of the non-existing firms linked to the Rs 72 crore payments made between 2019 and 2021, was arrested by the EOW. The arrest of Deepak Gupta is the latest in the unfolding fraud case.
BharatPe, which rose to prominence in the fintech sector under Ashneer Grover’s leadership, filed the complaint after uncovering suspicious transactions. The company has accused Grover and his family of engaging in illegal practices such as paying for non-existent services, funneling funds through sham companies and falsifying invoices.
Madhuri Grover, Ashneer Grover’s wife, who served as the Head of Controls at BharatPe, was dismissed from her position as part of the company’s internal investigation into these alleged fraudulent activities.
As Deepak Gupta is presented in court, the EOW is expected to press for further police custody to gather more details about the alleged misappropriation and Gupta’s role in the fraudulent activities. The investigation into Ashneer Grover, his family members, and their alleged connection to the Rs 81-crore fraud continues to gain momentum, with more developments likely in the near future.
