New Delhi, Nov 18: The Enforcement Directorate arrested Jawad Ahmed Siddiqui, Chairman of the Al Falah Group and Managing Trustee of the Al Falah Charitable Trust, in connection with an alleged money-laundering racket linked to fake accreditation claims, diversion of funds, and massive financial irregularities following extensive searches and the examination of evidence recovered during raids at premises linked to the Al Falah Group earlier in the day.
The ED initiated its probe on the basis of two FIRs registered by the Crime Branch of Delhi Police, which accused Al-Falah University, Faridabad, of fraudulently claiming NAAC accreditation and making misleading assertions about its recognition under Section 12(B) of the UGC Act, 1956, an eligibility clause for receiving government grants.
During today’s searches at 19 locations in Delhi, including university premises and residences of key individuals, the ED said it seized over Rs 48 lakh in cash, numerous digital devices, incriminating documents, and uncovered multiple shell companies allegedly used to siphon funds.
Siddiqui, who was arrested under the terror-linked money laundering case on Tuesday evening, was produced before Additional Sessions Judge Sheetal Chaudhary Pradhan at her residence close to midnight.
he judge said, after carefully considering the submission made, I am of the considered view that all the compliances under Section 19 of the PMLA (Prevention of money laundering act) have been done.
Considering the gravity of the offence and that the investigation is at nascent stage. I deem it appropriate that the accused is granted Enforcement Directorate custody remand for a period of 13 days,” the judge added.
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