3, including 2 women IISc staff, arrested for misappropriating Rs 1.94 crore from premier institute

Akshay M Hakke, Deputy Commissioner of Police (Central), said an IISc staff member filed a complaint on November 1, alleging that two women working as temporary secretarial assistants at the institution had forged approval orders related to advance funds intended for students’ foreign travel.

They allegedly edited and manipulated the approval documents, changed the students’ bank account details, and diverted a total of ₹1,94,33,700 in several instalments to the bank accounts of their relatives and acquaintances, thereby misappropriating the institution’s funds and committing criminal breach of trust and cheating.

The police initially arrested Soundharya and Deepika from their residences in Hesaraghatta and Yeshwanthpur on November 2.

During interrogation, both women reportedly confessed to the crime, admitting they acted with the intention of securing quick financial gains. Rao was arrested on November 9 in Arakere, Bannerghatta Road, and he also confessed to his involvement in the crime.

Investigators said the accused utilised the stolen funds to acquire real estate properties, gold jewellery, and other valuable assets. Between November 8 and 10, authorities successfully recovered assets worth approximately Rs 1 crore, including two land plots valued between Rs 70 lakh and Rs 80 lakh, 121 grams of gold ornaments worth Rs 15 lakh, Rs 11 lakh in cash, and a Maruti Suzuki Brezza valued at Rs 10 lakh.

While Soundarya and Deepika have been handed over to judicial custody after the interrogation, Rao is presently in police custody.

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