Fraud in Academic Circles: Trio Arrested for Embezzling Overseas Travel Funds

Three individuals, including two female employees from an educational institution, were arrested for embezzling students' overseas travel funds. They manipulated documents to divert Rs 1.9 crore to personal accounts. Assets worth Rs 1 crore were recovered, and further investigation is ongoing.

Three individuals, including two women employed by a prominent educational institution, have been detained following allegations of embezzling advance funds allocated for student overseas travel, according to police reports released Wednesday.

A staff member of the prestigious institution initiated the police investigation by filing a complaint at the Sadashivanagar police station. The complaint accused two temporary secretarial assistants of forging approval documents, altering bank account details of students, and redirecting Rs 1.9 crore over several installments to accounts belonging to their relatives.

Upon interrogation, the suspects admitted to executing the fraud with an accomplice, revealing their motive was quick financial gain. They disclosed how they funneled the embezzled funds into 16 accounts and used the proceeds to purchase real estate and gold. On November 9, a third suspect was arrested, and a significant portion of assets, including land and gold, has been recovered as investigations continue.

(With inputs from agencies.)