Shillong, July 16: Enforcement Directorate (ED), Guwahati Zonal office has provisionally
attached assets worth Rs.7.56 crore under the provisions of Prevention of Money
Laundering Act (PMLA), 2002 in the case involving “fraud committed in issuance of
degree certificate”, against CMJ University, Chandra Mohan Jha, his family members and others.
In a statement issued on July 15, the ED said the attached assets are in the form of balances in their bank accounts, fixed deposits, insurance policies and a landed property.
The ED initiated investigation on the basis of FIR and charge-sheet filed by CID
Meghalaya under various sections of IPC, 1860 against CMJ University,Shillong, Chandra Mohan Jha, his family members, who were also trustees of CMJ Foundation and other persons for defrauding thousands of students by giving them fake degree certificates in return of money.
Around 20,570 degrees were illegally issued by CMJ University.
ED investigation revealed that after selling the fake degrees, the funds so received
in their bank accounts, were diverted after rotating among bank accounts in various
banks and mutual funds maintained by the members of Jha family and given colour of
genuine transactions while also investing some of the funds in fixed deposits. The
Proceeds of Crime (POC) were also invested in landed properties.
Total POC has been quantified at Rs.83.52 crore, out of which ED had earlier attached properties worth Rs. 41.2 crore. Total attachment in this case till date stands at around Rs 48.76 crore.
Further investigation is under progress, the ED said.
