New Delhi – Delhi Police have made a significant breakthrough in their investigation against self-styled godman Chaitanyananda Saraswati by discovering extensive financial irregularities. In a major development, authorities have confirmed that Chaitanyananda bank accounts frozen across 18 different banking institutions, containing nearly ₹8 crore along with 28 fixed deposits linked to the accused.
The financial investigation intensified after discovering that the fugitive godman withdrew over ₹50 lakh immediately after the FIR was registered against him on August 4. This suspicious withdrawal pattern prompted investigators to conduct a comprehensive audit of all Chaitanyananda bank accounts frozen to prevent further asset dissipation.
Post-FIR Financial Misconduct Exposed
Investigation revelations show that Chaitanyananda, also known as Dr Parthasarthy, engaged in systematic financial manipulation following the sexual harassment charges. The Chaitanyananda bank accounts frozen action came after authorities discovered he had withdrawn substantial amounts ranging between ₹50-55 lakh since the FIR registration.
This post-charge financial activity demonstrates the accused’s attempt to liquidate assets and potentially flee with substantial funds. The Chaitanyananda bank accounts frozen measure was implemented as an emergency step to preserve evidence and prevent the dissipation of potentially misappropriated funds.
Multiple Identity Banking Fraud Scheme
Investigators uncovered a sophisticated banking fraud scheme where the accused allegedly operated accounts under different names and identities. The Chaitanyananda bank accounts frozen investigation revealed that he submitted different particulars and documents when opening various accounts, creating a complex web of financial deception.
This multiple identity scheme allowed the self-styled godman to maintain numerous Chaitanyananda bank accounts frozen across different banking institutions while evading detection and regulatory oversight. The practice demonstrates premeditated financial fraud designed to facilitate money laundering and asset concealment.
Fraudulent Trust Creation and Property Diversion
The financial investigation revealed the creation of a fraudulent entity called “Sri Sharada Institute of Indian Management Research Foundation Trust,” which was used to divert legitimate institutional funds. Court documents indicate that revenues and funds from property sales were criminally misappropriated through this illegitimate trust structure.
The Chaitanyananda bank accounts frozen action specifically targets funds that belonged to the legitimate trust, which received substantial donations and contributions from unsuspecting devotees and supporters. The court noted that the accused diverted these revenues for personal benefit, constituting criminal breach of trust.
Luxury Lifestyle Funded Through Misappropriation
Evidence suggests that the substantial funds in Chaitanyananda bank accounts frozen were used to maintain an extravagant lifestyle, including luxury vehicles equipped with fake diplomatic number plates. The financial investigation revealed how institutional funds were systematically diverted to support personal expenses and lavish living standards.
The Chaitanyananda bank accounts frozen measure has effectively cut off access to these misappropriated resources, preventing further financial misconduct and preserving assets for potential victim compensation and legal proceedings.
Student Control Mechanisms and Financial Exploitation
Beyond direct financial fraud, the investigation revealed how financial control was used to exploit students. The Chaitanyananda bank accounts frozen case interconnects with allegations that the accused confiscated student mobile phones and original certificates as control mechanisms, potentially using financial leverage to maintain dominance over victims.
Students were required to surrender all original documents and certificates, which were returned only upon course completion. This practice created financial dependency and prevented victims from seeking alternative educational opportunities or reporting misconduct.
Court Rejection of Anticipatory Bail
A Delhi court recently rejected Chaitanyananda’s anticipatory bail plea in the financial irregularities case, citing the severity of allegations and flight risk concerns. The Chaitanyananda bank accounts frozen evidence likely influenced the court’s decision, demonstrating the accused’s attempt to liquidate assets and evade justice.
The court’s decision reflects judicial recognition of the systematic nature of financial fraud and the risk of continued misconduct if the accused were granted pre-arrest bail.
Surveillance and Digital Control Systems
Investigation details reveal sophisticated surveillance mechanisms used to control students, including confiscating mobile phones under the pretense of academic focus. The accused would replace students’ phones with devices of his choice, ensuring complete communication control while potentially monitoring their activities.
The Chaitanyananda bank accounts frozen investigation suggests that this control system may have facilitated financial exploitation alongside sexual harassment, creating a comprehensive abuse framework that targeted vulnerable students from economically weaker sections.
Ongoing Investigation and Asset Recovery
The Chaitanyananda bank accounts frozen action represents just the beginning of a comprehensive asset recovery investigation. Authorities continue examining the full extent of financial irregularities while working to trace additional hidden assets and accounts that may have escaped initial detection.
The frozen assets will remain secured pending the completion of legal proceedings, ensuring that misappropriated funds can potentially be recovered and returned to legitimate institutional purposes or victim compensation programs.
