A ₹4 crore financial fraud has been uncovered at a private school and trust in Bengaluru's Electronic City. The CCB has booked five staff members for allegedly diverting school fees to their personal accounts, arresting two.
Bengaluru: A massive financial fraud case amounting to ₹4 crore involving a private school and educational institution in the city has come to light. An FIR has been filed against five employees at the CCB (Central Crime Branch) police station in this regard. Two have been arrested, and a search is on for the others.
The accused are Sagar, Murali, Manoj, Mohan, and Kishore, who worked at the private school and its associated trust in Electronic City. It is known that these five worked as accountants and transport in-charges in various departments of the school and trust.
Accused were staff members at the school
The allegation is that they misappropriated funds belonging to the school and trust over several years, starting from 2017, committing a total fraud of about ₹4 crore. The complaint mentions that they transferred the fee money paid by students to their personal use instead of depositing it into the school's account. The directors of the school and educational institution had filed an official complaint with the CCB police about this fraud case. Based on the complaint, the CCB police have registered a case and intensified the investigation.
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Intense search for three others
As part of the current investigation, the CCB police have arrested the accused Sagar and Manoj and are conducting a thorough interrogation. Significant information is expected from them. Police sources have stated that a search has been initiated for the remaining accused, Murali, Mohan, and Kishore, and they are likely to be arrested soon. This case of misappropriating school fee money, causing a huge loss to the educational institution, has sparked a major debate in the education sector, and more details are expected to emerge in the coming days.
