published by, Surmya Sunilraj
Last Update: April 23, 2023, 16:51 IST
Uttarakhand (Uttaranchal), India
ED’s money laundering probe begins with an FIR lodged with the Uttarakhand Police in this matter (Representational image)
The Phoenix Group of Institutions was accused of receiving huge amounts of scholarship money from the Haridwar Social Welfare Department.
A piece of land and a building of an educational trust in Uttarakhand’s Haridwar city worth Rs 5.62 crore have been attached under the anti-money laundering law as part of its probe into an alleged SC/ST scholarship scam in the state, the Enforcement Directorate said. Saturday.
The federal agency said in a statement that the property belongs to the Seth Bimal Prasad Jain Educational Trust, which runs the Phoenix Group of Institutions in Roorkee.
It alleged that the Phoenix Group of Institutions “fraudulently” received a large amount of scholarship in the name of SC/ST students from the Social Welfare Department, Haridwar, for the period 2011-12 to 2014-2015.
“The institution made false claims to obtain this scholarship amount, which was embezzled and embezzled by the Phoenix Group of Institutions, Roorkee, run by the Seth Bimal Prasad Jain Educational Trust, through its trustees and hugely siphoned off the exchequer with wrongful gain. Financial loss occurred. for himself,” the ED said.
This money was remitted either to the bank accounts of the educational trust or to other accounts of the college and was used for the trust’s expenses and “withdrawn in cash”.
The ED’s money laundering case stems from an FIR lodged by the Uttarakhand Police in this matter.
Earlier, the ED had attached assets worth Rs 1.45 crore (land located in Haridwar) belonging to Vali Gram Udyog Vikas Sansthan, Roorkee, which operates the Techward Wali Gram Udyog Vikas Sansthan group, in the same case.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)