The Enforcement Directorate’s Guwahati zonal office has provisionally attached assets worth Rs 7.56 crore under the Prevention of Money Laundering Act (PMLA) in a case involving the issuance of fraudulent degree certificates by CMJ University which was based out of Meghalaya.
The accused assets belong to Chandra Mohan Jha, his family members, and others involved in the scam.
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Notably, the charges were slapped against CMJ University, Shillong, Chandra Mohan Jha, his family members, who were also trustees of the CMJ Foundation, and others for duping thousands of students by issuing fake degree certificates in exchange for money.
In a statement issued, the ED detailed that the attached assets include balances in bank accounts, fixed deposits, insurance policies, and a landed property.
The investigation by the ED was initiated based on an FIR and charge-sheet filed by the CID Meghalaya.
According to police, approximately 20,570 degrees were illegally issued by CMJ University. The funds obtained from selling these fake degrees were then laundered through various bank accounts and mutual funds held by Jha family members, disguised as legitimate transactions.
The total proceeds of crime in this case have been quantified at Rs. 83.52 crore. The ED had previously attached properties worth Rs. 41.2 crore, bringing the total attachments in this case to around Rs. 48.76 crore. Further investigation is ongoing, according to the ED.
