BharatPe Fund Misappropriation: Deepak Gupta Arrested
BharatPe Fund Misappropriation: Deepak Gupta Arrested
BharatPe Fund Misappropriation: Deepak Gupta Arrested
News summary

Deepak Gupta, the former Head of Procurement at Resilient Innovation, was arrested by the Economic Offences Wing (EOW) of Delhi Police on September 19 for his alleged involvement in a fraud case concerning BharatPe, where funds estimated at Rs 81 crore were misappropriated. Gupta is related to Ashneer Grover, BharatPe's former managing director, and is accused of participating in fraudulent activities alongside other family members, including making illegitimate payments to fictitious consultants and inflating vendor invoices. The investigation intensified following a criminal complaint filed by BharatPe in December 2022, which led to an FIR being registered in May 2023 against Gupta and four others, including Ashneer and Madhuri Grover. Prior to Gupta's arrest, the EOW had detained Amit Kumar Bansal for managing non-existent firms that received substantial payments from BharatPe. Gupta is currently in custody and will be presented at Saket Court, where police will seek his remand. These developments occur amidst ongoing scrutiny of BharatPe's financial practices following Grover's controversial exit from the company.

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