US court finds BYJU'S, Riju Raveendran guilty of $533 mn fraud

A US bankruptcy court has found BYJU'S-parent Think & Learn, Byju Raveendran, Riju Raveendran and hedge fund Camshaft Capital guilty of fraud. The court found they diverted $533 million from BYJU'S Alpha, the startup's US arm, to mislead lenders. It also ruled that Riju breached his fiduciary duties as a director of BYJU'S Alpha and worked to hide the funds.