The Enforcement Directorate (ED), Guwahati Zonal Office has provisionally attached assets worth Rs 7.56 crore of Shillong-based CMJ University Foundation trustees Chandra Mohan Jha and his family members and others in a case involving the issuance of fake degree certificates in return of money.
According to a statement issued by the ED, the assets were attached 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.
The attached assets are in the form of balances in their bank accounts, fixed deposits, insurance policies and a landed property.
ED initiated the investigation on the basis of FIR and charge-sheet filed by CID Meghalaya under various sections of IPC against CMJ University, 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”.
According to the ED, 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 amongst 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 ED statement said.
The proceeds of crime were also invested in landed properties. The total proceeds of crime has been quantified at Rs 83.52 crore, out of which ED has earlier attached properties worth Rs 41.2 crore.
“The total attachment in this case till date stands at approximately Rs 48.76 crore. Further investigation is under progress,” the ED statement added.
