Thu Apr 09 10:23:55 UTC 2026: ### Headline: Ex-Contractor Exploits Insider Knowledge in Rs 6 Crore Infosys Foundation CSR Fraud

The Story:
Bengaluru police have uncovered a significant fraud involving an alleged Rs 6 crore CSR grant linked to the Infosys Foundation. The accused, identified as Gagan N Deep, a former contractor for the Foundation’s projects, is accused of misrepresenting himself as a senior official to divert funds. Deep allegedly leveraged his prior knowledge of project execution, vendor networks, clients, and fund flows to deceive the Mysore Mercantile Company into transferring funds under the guise of “earnest money deposits” for fabricated projects.

The investigation began in March 2026 after a complaint filed by Sridhar Thimappa of Mysore Mercantile Company. Deep allegedly presented himself as capable of facilitating CSR funding and even conducted a site assessment of the Heggunje Rajeeva Shetty Charitable Trust, managed by the company, before soliciting payments. He was arrested on April 3, 2026, and the police are now investigating potential accomplices and tracing the flow of the misappropriated funds.

Key Points:

  • The accused, Gagan N Deep, previously worked as a contractor for the Infosys Foundation.
  • Deep allegedly misrepresented himself as the Regional Head of the Infosys Foundation.
  • He is accused of inducing the Mysore Mercantile Company to transfer nearly Rs 6 crore under false pretenses.
  • Fabricated sanction letters dated October 21, 2025, and forged grant agreements were used to legitimize the transactions.
  • The fraudulent activities involved projects such as the construction of over 855 houses worth Rs 179 crore and primary health centers worth Rs 178 crore.
  • The investigation began following a complaint filed in March 2026 by Sridhar Thimappa of Mysore Mercantile Company.
  • Deep was arrested on April 3, 2026.
  • The Infosys Foundation has cautioned the public against unsolicited approaches for grant funding.

Key Takeaways:

  • Insider knowledge can be a significant vulnerability in CSR funding processes.
  • Lack of robust verification mechanisms can lead to substantial financial losses for companies seeking CSR grants.
  • The incident underscores the importance of due diligence and stringent oversight in the management of CSR funds.
  • The Infosys Foundation’s public warning highlights the prevalence of such fraudulent schemes targeting CSR initiatives.
  • This case may lead to a re-evaluation of internal controls and external vetting processes within the Infosys Foundation and similar organizations.

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