Byju's Fraudulently Transferred $500M
This is a Bengaluru news story, published by Yahoo Finance, that relates primarily to Byju news.
Bengaluru news
For more Bengaluru news, you can click here:
more Bengaluru newsByju news
For more Byju news, you can click here:
more Byju newsbanking & finance news
For more banking & finance news, you can click here:
more banking & finance newsYahoo Finance news
For more news from Yahoo Finance, you can click here:
more news from Yahoo FinanceAbout the Otherweb
Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like banking & finance news, you might also like this article about
education technology company Byju. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest Byju news, era startup funding boom news, banking & finance news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
former ByjuInsider
•Business
Business & Economics
A once-hot startup got a $1.5 billion loan. More than $500 million went to a high school dropout's 'sham' hedge fund, judge rules.
78% Informative
Byju's-related entities had fraudulently transferred over $500 million to a "sham" hedge fund.
At its peak, the Bengaluru -based company was valued at $22 billion , making it the most valuable startup in India .
The lenders have yet to trace the money, despite extensive efforts detailed in court documents.
Byju 's is still operating, but the company faces significant turmoil beyond the US bankruptcy case.
BlackRock and at least one other equity investor have written off the value of their investments.
Raveendran wrote on LinkedIn on Friday and again on Monday that he would rebuild the company.
VR Score
81
Informative language
81
Neutral language
25
Article tone
formal
Language
English
Language complexity
49
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
4
Source diversity
2
Affiliate links
no affiliate links