In a significant breakthrough, the Economic Offences Wing (EOW) of the Delhi Police has arrested two individuals involved in a major financial scam targeting the Ministry of Electronics and Information Technology (MeitY). The accused, Prashant Agarwal, Director of HPPL Foundation, and Sudhanshu Kumar Rakesh, a Chartered Accountant, are charged with siphoning off more than Rs 3 crores allocated to support startups under the government-funded SAMRIDH Scheme.
The arrests were made following a complaint filed by Rashi Sharma from the MeitY Startup Hub (MSH), which is part of the Digital India Corporation. The complaint led to an FIR on April 24, which brought attention to the fraudulent activities of Agarwal and Rakesh.
According to authorities, HPPL Foundation was entrusted with funds under the SAMRIDH Scheme aimed at supporting various startups. However, it was discovered that the accused diverted these funds for personal use instead of their intended purpose. Additionally, Rakesh allegedly helped fabricate Utilisation Certificates to cover up the misuse of funds.
Both individuals now face serious charges, including financial fraud and misappropriation of government funds, as the investigation continues to uncover the extent of their illicit operations.
