New Delhi, March 27 (IANS) The Enforcement Directorate (ED) has arrested Jawad Ahmad Siddiqui, Director and major shareholder of M/s Tarbia Education Foundation, in connection with a money laundering case, the agency said in an official statement on Friday.
The arrest was carried out on March 24 by the ED’s Delhi Zonal Office under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The action follows an ongoing investigation into the alleged generation and laundering of proceeds of crime (PoC) linked to Al-Falah Charitable Trust, Al-Falah University, and their associated entities.
The Al-Falah group is under scrutiny in an investigation linked to the November 10 blast near Delhi’s Red Fort.
According to the ED, it had earlier filed a prosecution complaint (chargesheet) against Siddiqui on January 17 in the case. Investigations so far have revealed the use of forged and fabricated documents for the fraudulent acquisition of land.
The agency alleged that Siddiqui, in connivance with other individuals, orchestrated the preparation and execution of fake documents to illegally acquire land bearing Khasra No. 792 in Village Madanpur Khadar in southeast Delhi. The land, measuring approximately 1.146 acres, is currently valued at around Rs 45 crore.
The ED further stated that while the sale consideration recorded in the documents was shown as Rs 75 lakh, the actual transaction value is suspected to be significantly higher.
Investigators are now working to trace the full money trail and identify other beneficiaries, as well as additional properties allegedly acquired through the proceeds of crime.
Siddiqui was produced before the Special PMLA Court in Saket on March 25, which remanded him to ED custody till April 4 for further interrogation.
The agency said further investigation in the matter is underway.
–IANS
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