Rajput abruptly stepped down from his position at Biofourmis Holdings in August 2023 / Photo credit: Biofourmis
The former director and CEO of healthcare startup Biofourmis Holdings is set to be charged in court on February 4 for his alleged involvement in a series of financial crimes, the Singapore Police Force (SPF) said in a news release on Tuesday.
The individual will be charged with falsification of accounts, fraud by false representation, and forgery for the purpose of cheating.
The Business Times understands the accused to be the company’s founder and former CEO Kuldeep Singh Rajput, who abruptly stepped down from his position in August 2023.
Rajput is currently the founder and CEO of OutcomesAI, a US-based firm using AI to improve the operational efficiency of healthcare workers. His new venture most recently raised funding in a US$10 million seed funding round in October 2025.
The accused allegedly instigated his staff to falsify company invoices between August 18, 2021 and February 28, 2022. These documents purportedly showed that Biofourmis Singapore had rendered services worth almost US$16.5 million to the Ministry of Health.
Furthermore, the police alleged that between March 28 and April 25 in 2022, Rajput “fraudulently made – and also abetted by instigating the making of – false representations concerning (Bifourmis Holdings) and its subsidiaries.”
He was also alleged to have forged an employee stock option plan offer letter. This act was reportedly carried out for the purpose of cheating a bank in relation to an intended funds transfer.
If convicted of fraud by false representation or abetting such fraud, Rajput faces an imprisonment term of up to 20 years, a fine, or both for each charge.
For the charges involving the falsification of accounts or forgery for the purpose of cheating, he faces up to 10 years in prison, a fine, or both for each instance.
See also: Healthtech unicorn Biofourmis cuts more jobs after merger
This story was republished with permission from The Business Times. It was moderately edited to reflect Tech in Asia’s editorial guidelines.
Editing by Miguel Cordon and Jaclyn Tiu
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