₹79 Crore Siphoned Through Fake Vendor Accounts: ED Names Former US Club Official, Husband And Nine Others In PMLA Complaint

Mumbai, October 14, 2026: The Enforcement Directorate (ED) has filed a prosecution complaint (PC) under the Prevention of Money Laundering Act (PMLA) against former United Services (US) Club deputy secretary (finance) Bernadette Bharat Varma, her husband Bharatkumar Shankarlal Varma and nine others, alleging that more than Rs 79 crore belonging to the club was siphoned off through fake vendor accounts.

The ED filed the complaint before a special PMLA court in Mumbai on September 30. The court has ordered the issuance of pre-cognisance notices to the accused.

Funds Allegedly Diverted Through Fake Vendors

According to the ED complaint, Bernadette, who was entrusted with financial responsibilities at the club, allegedly misused her position to facilitate transfers of Rs 77.52 crore into bank accounts opened in the names of fake vendors of the club. Her husband allegedly opened and operated multiple accounts using names similar to those of genuine vendors of the club to divert the funds.

The agency alleged that the money was routed through several dummy entities before being transferred to the couple’s personal and joint bank accounts, as well as accounts held by their family members. Part of the alleged proceeds of crime was used to acquire immovable properties, make fixed deposits, purchase luxury vehicles and fund foreign trips with family members, besides financing a lavish lifestyle, the agency alleged.

Audit Uncovers Alleged Fraud

The alleged fraud came to light during an audit conducted by a chartered accountant in August 2024, the ED said. It further alleged that around Rs 11 crore was subsequently transferred to a foundation or trust following alleged illegal demands made by the accountant. The funds were primarily used by the accountant and his relatives and associates, the agency alleged.

Also Watch:

Assets Worth Over Rs 47 Crore Attached

Earlier, the ED had provisionally attached immovable properties, including flats, land and shops in Mumbai and the Raigad area, along with movable assets in the form of fixed deposits and bank balances. The total value of the attached assets exceeds Rs 47 crore.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/