FIIT JEE 'siphoned off fees collected from students: ED

THE ED CASE, FILED UNDER PMLA, STEMS FROM MULTIPLE POLICE FIRs BASED ON COMPLAINTS FROM THE PARENTS OF STUDENTS

- Press Trust of India

NEW DELHI: The Enforcement Directorate (ED) on Saturday alleged that FIIT JEE coaching institute collected more than ₹200 crore as fee from thousands of students and their parents but "did not" deliver the educational service, indicating "serious" financial irregularities and siphoning of funds.

The federal probe agency said in a statement that it seized ₹10 lakh in cash, jewellery worth ₹4.89 crore after it conducted searches on April 24 as part of a money laundering investigation and covered premises including that of FIIT JEE Director D K Goel, other executives of the company and their offices.

The raids covered seven premises in Noida, Delhi and Gurugram.