Tuesday, October 21, 2025
spot_img

CEO held for cheating of Rs 18 crore in an education loan scam

spot_img
- Advertisement -

A Bengaluru-based CEO of an online ‘data science programme’ firm has been held for cheating of Rs 18 crore in an education loan scam.

An officer said, “The firm was supposed to continue paying the EMI until the student secured employment, after which the responsibility would shift to the student.”

“However, the accused failed to honour the agreement. They stopped depositing the EMIs into the student’s account from the third month and demanded the remaining payments, stating that the agreement had been canceled for unknown reasons”, an officer added.

An officer further added, “The student, who had not completed the online course and was unemployed, found it unable to fulfill the payment obligations.”

A complaint has been filed against the CEO and other executives and accused them of cheating. The police arrested Geeklurn Sreenivas CEO.

The other accused Raman P C, chief financial officer, and Aman, Operations head have to be arrested.

The company has cheated 2,000 students of Rs 18 crore on fake promises to generate educational loans and misappropriate the funds.

Police officials have informed that each of those students was cheated in excess of Rs 2 lakh. The incident came to light when a student, 26, had enrolled in the firm’s 24-month data science course in December.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Zomato revises delivery partner remuneration to accommodate fuel price hike

Zomato revises delivery partner remuneration to accommodate fuel price...

Amazon HR people turn from hiring to seeking jobs themselves

Bloomberg | Amazon: With job cuts mounting across tech,...

Elon Musk shuts 2 out of 3 Twitter India offices; employees to WFH

Elon Musk has shut two out of three Twitter...

Volkswagen India opens ‘all-women operated store’ in Ahmedabad

Volkswagen Passenger Cars India announces that the City Store SP...

upGrad is offering multiple free courses; Apply Now

An online learning platform provides a comprehensive selection of...

GitHub Employees Must Use Copilot Daily, Says CEO

GitHub CEO Thomas Dohmke has made it mandatory for...

Cyient Appoints Kavita Kurup as Chief People Officer

Cyient, a global Intelligent Engineering solutions company, has appointed...

How Microsoft is Boosting Productivity with AI Agents?

Microsoft has recently introduced a suite of autonomous artificial...

Related Articles

Sheenu Pradhan
Sheenu Pradhanhttps://sightsinplus.com/
Sheenu Pradhan, Editor Content, SightsIn Plus. She has over 8 years of experience in human resources. Prior to this, she has been associated with Wictor Chemicals India, Wipro, and Shakti Plas Industry.