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HomeDelhiMassive Embezzlement Scandal Shakes Madhya Pradesh University

Massive Embezzlement Scandal Shakes Madhya Pradesh University

Financial Oversight Breakdown Leads to Multi-Crore Scam

Pravesh Verma

Bhopal: In a shocking revelation, the prestigious Rajiv Gandhi Proudyogiki Vishwavidyalaya (RGPV) has become the epicentre of a massive financial fraud, with the Vice Chancellor and four other staff members implicated in a ₹19.48 crore scam. The scandal came to light following a meticulous inquiry, leading to the registration of an FIR against the accused, including the Vice Chancellor¹².

The absence of a finance controller since September 2023 created a void in the university’s financial oversight, which the accused staff exploited to divert government funds to personal accounts. This fraudulent activity went unnoticed until a recent inquiry exposed the depth of the malfeasance.

The investigation revealed a calculated transfer of ₹19.48 crore into private accounts and the creation of four fixed deposits worth ₹25 crore each, all through a criminal conspiracy. The police have invoked sections for cheating, forgery, and criminal conspiracy, along with provisions of the Prevention of Corruption Act against the perpetrators.

The incident has raised serious questions about the financial management systems in place at educational institutions and the ease with which such a significant sum could be misappropriated. It underscores the urgent need for stringent checks and balances to prevent the recurrence of such fraudulent activities.

The case is currently under investigation, and no arrests have been made yet. The higher education community and the public at large await further developments as the authorities pledge to take strict action against those found guilty.

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