No Connection with Persons Involved in ₹16.71 Crore Bank Fraud: PhonePe

By Our Correspondent

Bhubaneswar, Sept 8 : It has recently come to the knowledge of PhonePe Private Limited (“PhonePe”) that certain persons have been arrested by the Economics Offenses Wing of the Odisha Police for falsely representing themselves as employees of PhonePe to avail loans from State Bank of India under fraudulent pretense.

At the outset, PhonePe unequivocally states that the arrested persons are in no way associated with PhonePe or its employees at any point of time. Such persons have never been employed by the company and that any documents in relation to PhonePe used by such persons are forged documents.

PhonePe is a law-abiding organization and has been cooperating and working closely with the Economic Offenses Wing of the Odisha Police and State Bank of India to aid their investigation. We shall continue to do as and when called upon. Needless to state, PhonePe condemns the actions by such persons for their unauthorized and illegal use of PhonePe’s brand and goodwill.