Byju’s US Lenders Sue UK Logistics Firm to Recover Missing Cash

American lenders sued a UK logistics company connected to the bankrupt Indian education company Byju’s, claiming the two firms colluded to steal more than $500 million in loan proceeds.

• In a lawsuit filed Monday, lenders claimed that OCI Limited received $533 million from a small hedge fund in Miami as part of a fraudulent transfer designed to keep the money away from lenders
• OCI and the hedge fund disguised the transfer as a loan in the form of promissory notes so that Byju’s could claim on financial disclosure forms that the money was an asset, not an expense, according to ...