Jaipur, Dec 22 The ED has filed a chargesheet in a Special Court (PMLA), Jaipur, against a computer institute and its officials who floated a misleading investment scheme, with the assurance of "Earn While You Learn", and committed a Rs 70 crore fraud and money laundering.
The Directorate of Enforcement (ED), Jaipur Zonal Office, filed the Prosecution Complaint (PC) on December 15 before the Special Court (PMLA) against Preeya Home Study Private Limited (PHSPL) and its Directors/Ex-Directors Mahesh Kumar, Satya Prakash and Sombir Poonia, said an official statement.
The accused have been charged with offences of money laundering under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The ED initiated an investigation in the case on the basis of 59 FIRs registered by Rajasthan and Haryana Police, which alleged that PHSPL and its key functionaries defrauded the general public by operating fraudulent online computer education and Multi-Level Marketing-type schemes.
The federal probe agency said that through misleading advertisements, seminars and assurances such as "Earn While You Learn", investors were induced to deposit membership fees ranging from Rs 5,800 to Rs 11,800 on promises of unrealistic returns.
Investigation revealed that, though incorporated in 2002 as an education company, PHSPL was actually used as a front to run a large-scale money circulation scheme, with educational content serving merely as a façade to collect funds through false representations and deceptive claims of legitimacy, the ED said.
Detailed financial investigation, including examination of bank accounts, statements of accused persons and complainants, revealed that money was collected from lakhs of investors across multiple states during the period of offence, out of which a large sum of money to the tune of Rs 70 crore was dishonestly retained and laundered.
The ED investigation established that the Proceeds of Crime (PoC) were utilised for the acquisition of multiple immovable properties in the names of the company and family members of its key promoters/directors.
Accordingly, the ED provisionally attached various properties valued at Rs 3.06 crore vide a Provisional Attachment Order, which was subsequently confirmed by the Adjudicating Authority, said the ED statement.
--IANS
rch/dan
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