The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Venkat VempatiVenkat Vempati Scam

Scams and fraud have been a subject of common affair in India and the initial surprise that one finds himself on hearing of a new scam has long foregone. Same was the reaction with Venkat Vempati, who has been accused of being involved in embezzlement of funds from the trust of his now demised father. The trust has been in operation for more than 5 years now and is primarily concerned with providing free education, meals and clothes to meritorious underprivileged children.

Venkat Vempati very cleverly channelized the trust’s funds into a dummy corporation which he heads by way of floatation of tender and then used his influence in the Trust’s board to select the tender floated by his company. It was then just a matter of providing substandard goods and materials to the trust and putting the lives of all the children in grave danger.

The fraud was only discovered last month during the course of an internal audit and the investigation is now being headed by a seven member committee under the Ministry of Culture. As many as five dummy corporations have been unearthed so far which all point in the direction of Venkat Vempati. They range from clothing mills to hospitality services to consumer durable goods.

One can only hope that a thorough inspection is carried out into all the dealings of Venkat Vempati for the last 5 years and that perpetuators and defaulters be brought to justice. Stringent action is the need of the hour and the Ministry should make an example out of this.

Responses

  • Jo
    John Wash Mar 13, 2012

    Venkat Vempati – in under investigation for misuse of funds and has currently been
    accused of taking lakhs of rupees intended for Kuchipudi Art Academy and using funds
    from government grants for personal use

    0 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions

    IN THE NEWS

    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.