Frauds in the corporate world are a problem. According to PwC India, about 59% of Indian organizations have faced financial fraud in 2024. And it happens rarely that the one who committed comes to surrender themselves. Gameskraft Technologies’ (an online gaming platform in Bangalore) former Chief Financial Officer, Ramesh Pradbhu, admitted that he secretly took ₹250 crore from the company for his own futures and options (F&O) trading. That’s what happens when guilt kicks in; there’s no other option but to come clean and submit to fate. While all this was happening, what was the company doing without verifying its accounts? Is the faith of the investors in the company shaken? Learn more.
How Did Ramesh Prabhu Steal ₹250 Crore From Gameskraft?
- Ramesh Prabhu, between FY20 (2019-20) and FY25 (2024-25), faked company records and diverted about ₹231.39 crore to his personal bank account.
- He controlled the transactions (done to his personal account in RBL Bank) himself. To cover the crime, he created false mutual fund statements to make it look like a genuine investment.
- Ramesh Prabhu later used the money to invest in F&O (a high-risk stock market trading) and lost the money.
How Ramesh Prabhu Got Caught?
The act was never caught until March 2025. Several media reports suggest that he wanted to personally benefit from the money, and when he makes profits, he would return. Instead, he suffered major losses and now feels guilt. He sent a confession email (in March 2025) directly to Gameskraft. In which he admitted what he did.
According to Gameskraft, Ramesh Prabhu:
- ₹231.39 crore was stolen in unauthorised transactions between FY20 and FY25.
- ₹211.53 crore wrongly booked as “investments” in company books.
- ₹270.43 crore ultimately written off in FY25 accounts.
What Action Did Gameskraft Take?
First things first, Ramesh Prabhu has been untraceable since March. Gameskraft officially filed a complaint (FIR) at Marathahalli Police Station on September 9, 2025. It is still unclear why the company took so long to file a complaint. Here are the serious charges the company booked him under the Indian Penal Code (IPC):
- Theft
- Criminal breach of trust
- Forgery
- Falsification of accounts
Financial Impact on the Company
The company, by all means, is answerable to all of its venture capital investors. After fact-checking the fraud, Gameskraft wrote off ₹270.43 crore in its FY25 financial statements as losses. If we look at the financial performance of the company in FY25:
- Revenue: ₹3,896 crore (up 12% from FY24’s ₹3,475 crore).
- Profit Making: ₹706 crore (down 25% from FY24).
- Especially, the ₹270 crore was reported under “exceptional items,” which means a big-time loss that is not part of the business.
Bigger Challenges for Gameskraft
The online gaming industry has already taken a major hit in India since the government passed the Promotion and Regulation of Online Gaming Act, 2025. For Gameskraft, learning about the fraud is another slap on the face. The company had to shut down some of its major platforms, such as:
- RummyCulture
- Gamezy
- Pocket52
- Ludo Select
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