NEW DELHI: The Enforcement Directorate (ED) has alleged that Al-Falah University and its controlling trust generated proceeds of crime worth at least Rs 415.10 crore by fraudulently inducing students and parents to pay fees based on false accreditation and recognition claims.

The investigative agency made its claims in the remand application filed before a court after the arrest of Al-Falah group chairman Jawad Ahmed Siddiqui on late Tuesday evening.

The agency had arrested Siddiqui under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, following a detailed investigation and analysis of evidence gathered during a search action conducted earlier on Tuesday at premises related to the Al Falah group. The search was in connection with an ongoing probe in an Enforcement Case

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