Come May/June(the new batch into the IIMs) and seniors are deluged by  friend requests from the junior batch, most not even accompanied by a  basic introductory message. If it is someone like me, they will write  back politely explaining that they do not add strangers. But most people  just take a cursory look, confirm from the profile that it is an IIM-A  student, and then add it(even faster if it is a girl :)), as a friend.
I blogged earlier(http://andy161.blogspot.com/2011/07/is-facebook-becoming-new-orkut.html)  on the trend of Facebook becoming a community of strangers(not friends), and that is quite applicable here. 
Some enterprising people(only girls so far) have been using that  time window, to add IIMA people as their friends. For example, Ankita  Mittal(http://www.facebook.com/profile.php?id=100002546811577).  She is not an IIMA student/alumnus(I confirmed this from our IIMA  records), but has already added 50+ IIMA students on the basis of the  fake profiles. These profiles may be created by males, but they must  have noticed the faster response rate when a good looking female pic is  created! 
Now, this will only work online-when it comes to a  job search/attending alum meets etc they will be caught red handed. But  they may be able to fish for relationships(and hope it is condoned when  it goes far!). Or they may be Media persons in disguise, waiting to  extract nuggets from the status messages/other things posted by  students.
Takeaway:- Whatever their motivation,  this is pretty disgusting, and I encourage you to report these fake  profiles as abuse whenever noticed. From an IIM branding perspective, people faking their identities on social networks are free riding, and this is unacceptable.
i have a theory actually. Its possible that those profiles are created by reporters to keep track of IIM gossip
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