ED attaches assets worth Rs 2.84cr in money laundering case

    Sunil Aswal
    September30/ 2023
    Last Updated:

    Enforcement Directorate

    New Delhi: The Enforcement Directorate (ED) has provisionally attached properties worth Rs 2.84 crore under the provisions of Prevention of Money Laundering Act (PMLA) in connection with the 'Post matric Scholarship Scam'.

    The ED said thst the attached properties are in form of seven plots worth Rs 76,83,000 in name of Syed Ishrat Hussain Jafri, one flat worth Rs 52,00,000 in name of his wife Rachna Jafri, two plots worth Rs 76,55,000 in name of Praveen Singh Chauhan and one plot worth Rs 24,00,000 in name of his wife Hema Singh, one plot worth Rs 35,50,000 in name of Ram and Shyam Educational Society purchased by Ravi Prakash Gupta and balance Rs 19,69,000 in bank account of Vikram Nag.

    The ED initiated PMLA investigation in this case on receipt of intelligence and subsequent registration of FIR by Uttar Pradesh Police (PS Hazaratganj).

    Investigation conducted by the ED revealed that managers and trustees of Hygia Group of Institutes and SS group of Institutes got admission of fake students in their institutes for namesake and applied for scholarship in their names on the government portal.

    The scholarship so received was transferred to accounts of colleges and thereafter withdrawn in cash or transferred to personal accounts, thus, resulting in embezzlement of government funds running in crores.

    To date, four persons have been arrested in this case.

    Earlier, a Provisional Attachment Order was issued attaching immovable and movable properties worth Rs 3.24 crore in the name of managers and trustees of the involved colleges; and a Prosecution Complaint was filed against accused persons before the Special PMLA Court.