FIITJEE siphoned off Rs 250 crore, failed to deliver quality educational providers: ED | Delhi News

NEW DELHI: The Enforcement Directorate has added a brand new dimension to its actions — its latest searches on FIITJEE have been prompted not simply by monetary irregularities, but additionally by the institute’s failure to deliver “quality educational services” promised to college students.
The anti-money laundering company has all the time been confined to probing monetary frauds, monitoring cash path of proceeds of crime and attachment of property. But, of late, it has shifted its focus to fast restitution of hooked up property: be it to banks or people who’ve been scammed by fraudsters.

As an final result of its searches earlier this week, ED on Saturday mentioned the probe revealed FIITJEE collected Rs 250 crore from 15,000 college students and siphoned off the proceeds in shopping for private properties by di rectors and different high executives of the teaching firm.
At least 32 teaching centres at Ghaziabad, Lucknow, Meerut, Noida, Prayagraj, Delhi, Bhopal, Gwalior, Indore Faridabad, Gurugram, Mumbai and many others have been abruptly shut down, inflicting widespread misery main to a number of FIRs registered by police in a number of states.
“These funds were diverted for personal and unauthorized use, while faculty salaries remained unpaid,” ED mentioned. On April 24, ED carried out searches at seven areas in Noida, Delhi and Gurgaon within the case of FIITJEE fraud.
The ED mentioned it initiated investigation in opposition to FIIT-JEE and its senior administration as FIRs alleged that the “senior management collected substantial fees from students and parents under the pretext of providing quality educational services, but instead engaged in large-scale financial fraud and criminal breach of trust.”