Major Financial Fraud Uncovered at Premier Science Institute
The Bengaluru police have made significant arrests in a high-profile financial fraud case involving the prestigious Indian Institute of Science (IISc). Three individuals, including two women staff members of IISc, have been taken into custody for allegedly misappropriating a staggering Rs 1.94 crore designated for students' international travel expenses.
The Accused and Their Modus Operandi
According to police officials, the arrested individuals have been identified as V Soundarya, 25, from Yeshwanthpur and R Deepika, 25, from Hesaraghatta, both of whom were working as assistant clerks at the IISc registrar's office. The third accused is Sachin Rao, 25, who is Deepika's boyfriend.
The elaborate scheme came to light when an IISc staff member filed a formal complaint on November 1, alleging that the two temporary secretarial assistants had engaged in sophisticated forgery. The accused reportedly manipulated approval documents related to advance funds meant specifically for students' foreign travel programs.
Investigators revealed that the women systematically edited official approval orders and altered students' bank account details. Through this method, they successfully diverted Rs 1,94,33,700 in multiple instalments to bank accounts belonging to their relatives and acquaintances.
Police Action and Recovery of Assets
The Central Bengaluru police acted swiftly on the complaint, initially arresting Soundarya and Deepika from their residences on November 2. During intensive interrogation, both women confessed to committing the crime with the clear intention of achieving quick financial gains.
Sachin Rao was subsequently apprehended on November 9 from Arakere, Bannerghatta Road, and he too admitted his involvement in the criminal conspiracy.
Deputy Commissioner of Police (Central) Akshay M Hakke disclosed that the accused had utilized the stolen funds to acquire substantial assets. In a major recovery operation conducted between November 8 and 10, police authorities successfully seized assets worth approximately Rs 1 crore.
The recovered items include:
- Two land plots valued between Rs 70-80 lakh
- 121 grams of gold ornaments worth Rs 15 lakh
- Cash amounting to Rs 11 lakh
- A Maruti Suzuki Brezza vehicle valued at Rs 10 lakh
Legal Proceedings and Current Status
Following thorough interrogation, Soundarya and Deepika have been remanded to judicial custody, while Sachin Rao remains in police custody for further investigation. The police have charged the trio with multiple offenses including criminal breach of trust, cheating, and forgery.
This case has sent shockwaves through the academic community, raising serious questions about financial oversight mechanisms at one of India's most respected educational institutions. The incident highlights how trusted employees allegedly exploited their positions to divert funds meant for supporting students' academic and research activities abroad.
The Bengaluru police continue their investigation to determine if there are other individuals involved in the fraud and whether additional assets purchased with the misappropriated funds can be recovered.
