ED Files Chargesheet Against Computer Institute for Rs 70 Crore Fraud

The Enforcement Directorate (ED) has submitted a chargesheet in a Special Court in Jaipur, accusing a computer institute and its officials of orchestrating a deceptive investment scheme, promising “Earn While You Learn,” resulting in a Rs 70 crore fraud and money laundering.
The ED’s Jaipur Zonal Office lodged the Prosecution Complaint (PC) on December 15 at the Special Court, under the Prevention of Money Laundering Act (PMLA) against Preeya Home Study Private Limited (PHSPL) and its Directors/Ex-Directors Mahesh Kumar, Satya Prakash, and Sombir Poonia.
The accused individuals are facing charges of money laundering as per the provisions of the PMLA, 2002. The ED’s investigation was initiated based on 59 FIRs filed by the Rajasthan and Haryana Police, alleging that PHSPL and its key members engaged in fraudulent online computer education and Multi-Level Marketing schemes.
The ED stated that investors were misled through deceptive advertisements, seminars, and promises like “Earn While You Learn,” leading them to pay membership fees ranging from Rs 5,800 to Rs 11,800 with unrealistic return assurances.
Upon investigation, it was discovered that although established as an educational company in 2002, PHSPL was actually a front for a large-scale money circulation scheme, with educational activities used as a cover to gather funds through false representations.
A detailed financial probe, including scrutiny of bank accounts and statements, revealed that a significant amount of around Rs 70 crore was unlawfully retained and laundered from numerous investors across various states during the fraudulent activities.
The ED’s investigation further disclosed that the illicit funds were used to acquire multiple immovable properties in the names of the company and the family members of its key promoters and directors. Consequently, the ED provisionally attached properties valued at Rs 3.06 crore through a Provisional Attachment Order, which was later confirmed by the Adjudicating Authority.