Bengaluru, January 10, 2025 – Sandeep Gururaj, a Chartered Accountant, has been found guilty of professional misconduct by the Institute of Chartered Accountants of India (ICAI). Gururaj, a former General Manager at the Manipal Group, is accused of embezzling approximately Rs 76 crore from the company.
Investigations revealed that Gururaj, while employed at Manipal, misappropriated funds through a complex scheme involving an individual convicted of running a Ponzi scheme in Dubai. The company filed a criminal complaint against Gururaj in 2018, and he has been in custody for nearly two years across multiple criminal cases.
During an internal inquiry, Gururaj confessed to the misappropriation and Rs 8.58 crore was recovered from him and his associates. The ICAI Disciplinary Committee, citing the gravity of the fraud, concluded that Gururaj had “totally deviated from the righteous path and indulged in nefarious financial activities.”
This decision by the ICAI underscores the importance of upholding the highest ethical standards within the chartered accountancy profession and serves as a warning to those who may breach public trust.
