ADVERTISEMENTs
Byju Raveendran sued for money laundering in Delaware
BYJU’s founder and top executives are accused of moving $533 million through fake investments and offshore accounts
-
Bhavana P - Fri, 11, Apr 2025
- 16:18 EDT
- 414
.jpg)
BYJU's founder Byju Raveendran. / BYJU's
BYJU’s Alpha Inc., a U.S.-based financing arm of Indian edtech giant BYJU’s, has sued company founder Byju Raveendran in a Delaware court, accusing him of helping to steal $533 million meant for loan repayments.
The lawsuit also names co-founder Divya Gokulnath and executive Anita Kishore, claiming all three were part of a scheme to hide and misuse the money. It follows a recent Delaware Bankruptcy Court ruling that confirmed several fraudulent transfers took place.
Also read: Indian-origin CEO arrested in luxury brothel investigation in US
According to court filings, the funds were part of a $1.5 billion loan received in 2022. Just months after the money was raised, the lawsuit says BYJU’s Alpha defaulted, and $533 million was secretly moved to a fake investment fund called Camshaft Capital. The fund reportedly had no real operations and shared an address with a pancake restaurant.
The lawsuit outlines a series of efforts to keep the funds out of lenders’ reach, including transfers to offshore accounts. Over time, the firm repeatedly told lenders and the court that the money was safe, but in late 2024, Raveendran admitted it had been spent.
“It is clear that Byju, Divya, and Anita deliberately hid the assets of BYJU’s Alpha and repeatedly were deceptive about the location of the money in order to steal funds rightfully owed to the Lenders,” the ad hoc group of term loan lenders stated.
“They can either choose to live the rest of their days as international fugitives or face the music and return the money they stole,” they said.
BYJU’s Alpha is asking for damages, repayment of legal costs, and a full account of where the money went.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
E Paper
ADVERTISEMENT
.jpg)
Video
 (1).jpg)
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login