Al Falah Chairman Held: ED Uncovers Crores Diverted Through Shell Firms

Al Falah Chairman Held: ED Uncovers Crores Diverted Through Shell Firms

 

New Delhi: The Enforcement Directorate (ED) has arrested Jawad Ahmed Siddiqui, Chairman of the Al Falah group, under the Prevention of Money Laundering Act (PMLA), following what officials described as a “detailed financial investigation” into alleged diversion of funds.

The arrest comes a day after the agency carried out coordinated searches at 19 locations across Delhi, including Al Falah University and the homes of key group executives. According to the ED, the probe has unearthed large-scale proceeds of crime, with evidence showing crores of rupees allegedly siphoned off by the trust into family-owned entities.

During the raids, officials seized over ₹48 lakh in cash, multiple digital devices, and a trove of documents that investigators say strengthen the case.

The agency has also flagged the existence of multiple shell companies linked to the group and detected violations under several other laws. The probe stems from two FIRs filed by the Delhi Police Crime Branch, alleging that Al Falah University, Faridabad, falsely claimed NAAC accreditation to mislead students and parents for wrongful financial gain.

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