Jailed conman Sukesh Chandrashekhar offers $3 billion investment in OpenAI

Chandrashekhar, currently lodged in Delhi’s Tihar Jail in connection with a multi-crore scam, made the proposal directly to Sam Altman through a letter, Financial Express reported.

In the letter, Chandrashekhar offered an immediate $1 billion investment, with an addition $2 billion to be invested in over the next five years to back the company’s operations in India.

“As you and your company are now working towards becoming a part of India’s National AI Agenda, I want to play a small role by making an investment in OpenAI of 1 Billion USD, immediately, and further extend it to another 2 Billion USD over the next five years for your Indian operations,” he wrote.

Chandrashekar continued, addressing Altman personally: “Sam, why go to venture capital investors? Why should the big boys always have all the fun? Sam, please just take my money.” He also mentioned the challenges he has faced, stating, “Just like how you started from scratch, I too have started from a humble beginning, the only difference is a lot of baggage has been tagged along with me—false allegations and legal cases, none of which have been proven against me.”

The letter was delivered from Chandrashekar’s prison cell through a legal firm named Anantam Legal.

He is in judicial custody on multiple fraud and money-laundering charges under investigation by the Enforcement Directorate (ED).

In the letter, Chandrashekar claimed that he had built a thriving online gaming and betting platform, reportedly generating nearly $3 billion in annual revenue.

He also stated that his businesses operate outside India and added that he has a strong interest in investing in the country’s tech and AI sectors.

This is not the first time Chandrashekar has made ambitious investment claims. Previously, he proposed acquiring a 50-70% controlling stake in filmmaker Karan Johar’s Dharma Productions.

In a letter sent last year through the same legal firm, he described the offer as non-negotiable, pledging to complete the transaction within 48 hours if terms were accepted.