Bengaluru: The Bengaluru police have arrested a man for allegedly impersonating a senior corporate official and cheating a company of nearly ₹6 crore by promising Corporate Social Responsibility (CSR) funding.
The arrest follows a complaint filed last month by Sridhar Thimappa, an executive at Mysore Mercantile Company. According to the complaint, the accused identified himself as Gagan N Deep and falsely claimed to be the Regional Head (CSR) at Infosys.
Alleged impersonation and false claims
Police officials stated that the accused allegedly used the credibility of Infosys to gain the trust of the complainant. He reportedly claimed that he was working under senior company officials, including Harsh J and Niladri Prasad Mishra, to make his identity appear legitimate.
Investigators believe that the accused carefully crafted his persona to appear convincing, using corporate jargon and knowledge of CSR processes to mislead the victims.
Targeting charitable trust
The accused is said to have shown interest in the activities of the Heggunje Rajeeva Shetty Charitable Trust, which is managed by Mysore Mercantile Company. He allegedly assured the organisation that he could facilitate substantial CSR grants from Infosys for their initiatives.
To strengthen his claims, the accused reportedly deployed a team of four to five individuals to conduct field visits. These individuals, identified as Chethan and Tejas among others, visited locations such as Udupi and Mangaluru to assess the trust’s operations.
These visits were intended to create an impression of due diligence and authenticity, thereby convincing the organisation of the legitimacy of the promised funding.
Fraudulent transactions uncovered
Based on the assurances provided, the complainant company allegedly transferred nearly ₹6 crore to accounts specified by the accused. Police suspect that the funds were routed through multiple channels to avoid detection.
Authorities are currently analysing bank transactions and digital communication records to trace the movement of the money and identify other individuals involved in the fraud.
Police investigation and arrest
Following the complaint, Bengaluru police launched an investigation and tracked down the accused. He was arrested on Friday and is currently in police custody.
Officials stated that further interrogation is underway to determine whether the accused has been involved in similar fraud cases elsewhere. The role of the associates who conducted field visits is also being probed.
Rising cases of CSR-related fraud
Police have warned organisations to exercise caution while dealing with individuals claiming to represent large corporations for CSR funding. Verification through official channels is essential before engaging in financial transactions.
Experts note that CSR frauds are becoming increasingly sophisticated, with fraudsters exploiting the goodwill associated with reputed companies to deceive organisations.
Conclusion
The case highlights the growing need for vigilance in corporate dealings, especially when large sums of money are involved. While CSR initiatives play a crucial role in social development, this incident serves as a reminder for organisations to verify credentials thoroughly before trusting external claims.
The investigation is ongoing, and authorities are working to recover the defrauded amount and bring all those involved to justice.