The Enforcement Directorate (ED) has arrested Jawad Ahmed Siddiqui, Chairman of the Al Falah group, under Prevention of Money Laundering Act (PMLA). The arrest took place following a detailed investigation and analysis of evidence gathered during a search action conducted at Al Falah group premises in the ongoing probe in an Enforcement Case Information Report.
Yesterday, ED conducted search operations at 19 locations in Delhi, including the premises of Al Falah University and residential premises of key persons of the Al Falah group. The investigation has revealed that large amounts of proceeds of crime have been generated. The Agency said that the evidence reveals crores of rupees have been diverted by the trust to family-owned entities. During the searches, a cash amount of over 48 lakh rupees, multiple digital devices and documentary evidence were seized.
The Agency added that Multiple shell companies of the group have also been identified and numerous violations under several other Acts have been detected. ED initiated investigation against Al Falah group on the basis of two FIRs registered by the Crime Branch, Delhi Police. The FIRs are based on the allegations that Al-Falah University, Faridabad, has made fraudulent and misleading claims of NAAC accreditation with an intention to deceive students, parents, and stakeholders for wrongful gain.
