Byju’s founder denies fraud, says missing funds used for legitimate purpose
The founder of Byju’s, a once high-flying Indian education company that defaulted on its US debts, denied that he orchestrated a scheme to fraudulently transfer $533 million away from lenders.
On the day a judge is considering the lenders’ fraudulent transfer claims against his company, Byju Raveendran outlined for the first time in court his explanation for what happened to the money, which lenders have been trying to track down for more than a year.
