Certificate Verification | Degree Verification | Marksheet Verification | Diploma Verification | INDIA - INTERNATIONAL |VERIFY DIRECTLY 

Getting certificate verification done, which is a part of education verification, can help the candidate in backing the claims succinctly. While going for an interview, carrying the verification report helps the candidate make the employer feel confident about the hiring decision.

ED attaches Rs 500 crore assets of Rai Foundation

Deeptiman Tiwary | TNN | Jan 10, 2015, 07.08 AM IST

NEW DELHI: In a crackdown on a scam related to sale of "fake" degrees, Enforcement Directorate (ED) on Friday attached properties worth over Rs 500 crore belonging to Rai Foundation which runs various colleges across the country under the aegis of Rai University. These properties also include university campuses in Bangalore, Ahmedabad and Ranchi, said ED.

The case pertains to alleged sale of "fake" degrees by Eastern Institute for Integrated Learning in Management (EIILM) in Sikkim. The institute is run by Rai Foundation. According to ED, the money earned through the sale of fake diplomas and degrees was used to buy property in Chhattisgarh, Rajasthan, Haryana and West Bengal. Money was also invested in campuses in Bangalore, Ahmedabad and Ranchi.

While the purchase value of the attached properties stands at Rs 160 crore, the market value has been pegged at around Rs 500 crore by ED.

Using the provisions of the Prevention of Money Laundering Act (PMLA), the agency has also attached cash of Rs 25 crore lying in bank accounts.

The agency had registered a money laundering case against the institute and its promoters on the basis of a Sikkim police FIR on EIILM, Rai Foundation (which runs it), and its owner, Vinay Rai.

"The educational institute was duping students by offering degrees and certificates in violation of UGC rules. There were numerous complaints against the fraudulent practices of the university," an ED official said.

Sources said the ED probe found that the management and owners of the university were "laundering" funds obtained from students as curriculum and tuition fees in purchasing large tracts of land and creating bank balances across the country.

"The university and its owners were conducting tainted transactions by extending illegal loans and making purchases in a circuitous manner within the organizations floated by them. The university violated UGC rules and other laws by establishing centres outside Sikkim and floating courses and giving degrees which they were not allowed to give," the sources said.

Do Degree Certificate Verification. Confirm It Is Not Fake. Contact Us!
Quick Verification · Online Access! · More Affordable Price! GENUINE!
Education Verification · Employment Verification 

Powered by IBC GROUP
IBC Background Checks is an ISO 9001: 2008 & ISO 27001:2013 certified company for quality assurance & information security. 09:30am to 6:30pm | Monday to Saturday (except for national holidays)

SMS, WhatsApp, Miss Call 8088880630 

Certificate Attestation, Apostille, Embassy Attestation, Notary Public Legalization, HRD Attestation, HRD/Home Department of State, UAE Attestation, Saudi Attestation, Qatar Attestation, Oman Attestation, Kuwait Attestation, Apostille Attestation, MEA Attestation, Embassy Attestation, Marriage certificate Attestation, Degree Certificate Attestation, Birth Certificate Attestation, Educational Documents, To Obtain an employment visa / Labour card in Gulf, For Higher education, To write MOH and DOH Exam by Doctors, Nurses etc,To get equivalent certificates, Visa stamping, Lamination Removal, Verification from university, Official Transcripts, Apply Marks Cards & Degree Certificate, Emigration, Visit visa, Non-Educational Documents, To Obtain Residence Visa, For the admission of children in school, To get the Experience Certificates, For VISA Extention. Diplomatic Mission Attestation (Embassies / High Commissions / Consulates) Translation. 

Tweet

Share on Thumblr

Buffer