The Enforcement Directorate (ED) is investigating the scholarship scam and has found two trusts linked to colleges that may have played a role in the fraudulent scheme. The ED has summoned more than 50 bank accounts of nationalised and private banks of the college operators, including both trusts, to determine the extent of their involvement. Banks have been asked to provide transaction statements of these accounts for the past five years.Details of Two Trusts Linked to CollegesAccording to sources, the ED has discovered that Dr Omprakash Guptas Education and Social Welfare Trust runs several educational institutions in Farrukhabad, including a Management Institute, Pharmacy College, and School of Education BTC. The SS Educational Trust operates the SS Institute of Management in Lucknow, while the Oregon Educational Society runs the Central Institute of Management and Technology in Lucknow. The ED has summoned the transaction details of all bank accounts associated with these trusts.Letters Sent to BanksThe ED has sought information about more than two dozen bank accounts operated by Dr Omprakash Gupta Group, 12 accounts by SS Institute of Management, five accounts by Central Institute of Management, four accounts of Hygia Group, more than half a dozen accounts by Bhimrao Ambedkar Foundation, and three accounts of Jeevika Institute of Pharmacy in Hardoi. To obtain this information, ED officials have written to several banks, including Bank of India, Bank of Baroda, Aryavarta Bank, Bank of Maharashtra, ICICI, Punjab National Bank, and State Bank of India.The banks have been asked to provide transaction statements of the bank accounts associated with the trusts and college operators for the past five years. The investigation has revealed that the fraudsters siphoned off scholarship funds meant for poor and underprivileged students into their accounts.Further details are yet to be revealedThe investigation by the ED into the scholarship scam has revealed the possibility of the involvement of two trusts linked to colleges. The investigation is progressing with the summoning transaction details from over 50 bank accounts. The banks have been asked to provide statements of these accounts for the past five years, indicating that the ED is leaving no stone unturned to uncover the truth behind the fraudulent scheme. The EDs commitment to uncovering the truth is commendable, and one can only hope that justice is served to the students affected by this scam.
