New Delhi [India], December 4 (ANI): Enforcement Directorate has provisionally attached assets worth Rs.13.54 crore of CMJ University, Shillong, Chandra Mohan Jha and his family members, under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in the fake degree certificate case, said a press release.
The attached assets are in the form of balance in Bank Accounts, Fixed Deposits, Mutual Funds, Insurance Policies and Immovable Properties.
ED initiated a money-laundering investigation on the basis of FIR and Charge-Sheet filed by CID Meghalaya against CMJ University, Shillong, Meghalaya, Chandra Mohan Jha, his family members (who were also Trustees of M/s CMJ Foundation) and others for defrauding thousands of students by giving them "fake degree certificates" in return of money. Around 20570 degrees were illegally issued by CMJ University despite its small faculty. The credentials of faculty were also highly doubtful.
Money laundering investigation has revealed that after selling the fake degrees, the funds so received in their bank accounts, were diverted after rotating amongst bank accounts in various banks and invested in Mutual Funds, Fixed deposits, Insurance policies and Immovable properties in the name of their family members and given colour of genuine transactions.
Total Proceeds of Crime has been quantified at Rs.83.52 crore, out of which ED had already attached properties worth Rs. 27.66 Crore earlier. With the present attachment, the total attachment in the case stands at Rs. 41.20 crore.
Further investigation into the matter is in progress. (ANI)