BharatPe accused Ashneer Grover & his wife Madhuri of stealing company funds for a 'luxurious life'

A day after BharatPe cofounder Ashneer Grover resigned from the company's board of directors and as managing director, the fintech giant retaliated with allegations of embezzlement, payments to bogus vendors, and syphoning money from the company's expense account against Grover and his wife Madhuri Jain Grover, the company's former head of controls.

"The Grover family and their relatives engaged in extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they syphoned money away from the company's expense account and grossly abused company expense accounts in order to enrich themselves and fund their lavish lifestyles," BharatPe said in a media statement. These allegations surfaced earlier this year as well, but were based on unconfirmed leaks during the BharatPe review process.

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