Tech Scam: Two Arrested for Defrauding Ministry of Crores
Delhi Police's Economic Offences Wing has arrested two individuals involved in a scam defrauding over Rs 3 crores from the Ministry of Electronics and Information Technology through a startup accelerator scheme. The suspects used fake documents to misappropriate funds intended for startups.
- Country:
- India
In a significant breakthrough, the Economic Offences Wing (EOW) of the Delhi Police has apprehended two individuals accused of orchestrating a major financial scam against the Ministry of Electronics and Information Technology (MeitY). The duo allegedly siphoned off more than Rs 3 crores by exploiting a government-funded startup initiative.
The accused are identified as Prashant Agarwal, the Director of HPPL Foundation and a Bengaluru resident, along with Chartered Accountant Sudhanshu Kumar Rakesh from Bihar. Their arrests followed an FIR lodged on April 24, spurred by a complaint from Rashi Sharma of the MeitY Startup Hub (MSH), a division under the Digital India Corporation.
According to authorities, the HPPL Foundation was entrusted with funds under the SAMRIDH Scheme intended to aid various startups. However, it emerged that the foundation diverted the funds for personal gain instead of supporting the startups, even fabricating Utilisation Certificates with Rakesh's assistance. As investigations progress, both individuals face serious charges for their fraudulent operations.
(With inputs from agencies.)
Google News