On Friday, the Enforcement Directorate (ED) searched 22 locations throughout six districts of Uttar Pradesh in relation to scams involving post-matriculation scholarship programmes. The ED claimed that several academic institutions were involved in the scholarship fraud, which may have cost up to Rs 75 crore to execute.
Numerous colleges, including those in Lucknow, Hardoi, and Farrukhabad, among others, have slipped under the radar.
Only students who fall under the SC, ST, or other minority categories are eligible to apply for the scholarships that are hidden from the ED for post-matriculatory courses. However, according to the investigation agency, these institutes illegally misappropriated scholarships by applying for them in the names of a number of ineligible candidates.
The accused, who also included relatives of the people in charge of these educational institutions, were charged under the relevant sections of the Prevention of Money Laundering Act (PMLA).
Additionally, during the searches, ED personnel seized foreign currency worth USD 956 and cash totaling Rs 36.51 lakh.
In an official statement, the ED said, ‘The central and state governments provide various scholarships to facilitate the education of SC, ST, and PH candidates. Further, some scholarships are meant for minority candidates and students of Economically Weaker Sections of society. Therefore, the scholarship scam has a huge social impact on the weaker sections of society.’
The ED claimed that a number of agents, including several from FINO Payment Bank, were complicit in the scheme. The scam was run, according to the ED, by Mohd Sahil Aziz, Amit Kumar Maurya, Tanveer Ahmad, and Jitendra Singh of FINO Payment Bank.
The ED reported that ‘the offenders had opened all bank accounts in the FINO branches in Lucknow and Mumbai.’
Post Your Comments