Fraud companies boosting placement stats

There is this one company which came to our campus offering 10.5L CTC and literally selected 251 students at a time when even our college (tier 1) is struggling to place even 50% students and maximum hiring per company is around 10. When you read this company's reviews online, the reviews are like they don't pay stipend for months and ask you to sell courses irrespective of if you are a developer. In fact, they ask for money from interns for 'charity' work. And the best part is, everyone who gave the test got selected, without any interviews. I think that college knows the reality but they still allow this so that the placements stats improve (adding 250+ students at a CTC of 10L really improves the placed percentage and the average package)