The Enforcement Directorate has seized assets valued at Rs 39.45 crore belonging to Al-Falah Charitable Trust and its Chairman, Jawad Ahmad Siddiqui. The attached properties include Siddiqui’s residential premises in Jamia Nagar, agriculture land in Faridabad, demat holdings, bank balances, and fixed deposits. Siddiqui was recently remanded in judicial custody for alleged money laundering and illegal land acquisition.
The investigation under the Prevention of Money Laundering Act stems from three FIRs filed by Delhi Police, citing offenses like cheating and forgery. Al-Falah University, associated with the Trust, is accused of misrepresenting accreditations and engaging in malpractices. The ED has filed a charge sheet against Siddiqui and the Trust, revealing proceeds of crime amounting to Rs 493.24 crore diverted to entities controlled by Siddiqui and his family.
The ED disclosed that funds were funneled to companies like Karkun Construction and Developers, Amla Enterprises LLP, and Diyala Construction and Developers Private Limited, before being sent to foreign destinations. Additionally, the ED attached land and buildings at the Al-Falah University Campus in Faridabad. These actions are part of the ongoing investigation into the alleged proceeds of crime.
