Did a Rajasthan Computer Institute Commit a Rs 70 Crore Fraud?
Synopsis
In a shocking turn of events, the Enforcement Directorate has filed a chargesheet against a Rajasthan computer institute and its officials for allegedly misleading investors with a fraudulent scheme. Promising to help individuals earn while they learn, the scheme has led to a staggering Rs 70 crore fraud. Dive into the details of this unfolding investigation.
Key Takeaways
ED filed chargesheet against PHSPL for fraud.
Scheme promised unrealistic returns under misleading claims.
Investors lost Rs 70 crore in the fraudulent operation.
Properties worth Rs 3.06 crore provisionally attached by ED.
Investigation based on 59 FIRs from police.
Jaipur, Dec 22 (NationPress) The Enforcement Directorate (ED) has submitted a chargesheet in a Special Court (PMLA), Jaipur, against a computer institute and its officials who launched a deceptive investment scheme promising "Earn While You Learn", resulting in a fraud and money laundering case amounting to Rs 70 crore.
The Directorate of Enforcement (ED) from the Jaipur Zonal Office filed the Prosecution Complaint (PC) on December 15 in front of the Special Court (PMLA) against Preeya Home Study Private Limited (PHSPL) and its Directors/Ex-Directors including Mahesh Kumar, Satya Prakash, and Sombir Poonia, as stated in an official announcement.
The individuals involved face charges of money laundering under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The ED's investigation was initiated following 59 FIRs lodged by the Rajasthan and Haryana Police, which claimed that PHSPL and its main officials deceived the general public by running fraudulent online computer education and Multi-Level Marketing schemes.
The federal investigative agency revealed that through misleading advertisements, seminars, and promises like "Earn While You Learn", investors were persuaded to pay membership fees ranging from Rs 5,800 to Rs 11,800 with guarantees of unrealistic returns.
Further inquiries indicated that, despite being established in 2002 as an educational institution, PHSPL was actually a cover for conducting a vast money circulation scheme, with educational content merely acting as a mask for gathering funds through false representations and misleading claims of authenticity, according to the ED.
A thorough financial investigation, which included analyzing bank accounts and statements from the accused and complainants, disclosed that funds were collected from numerous investors across various states during the offense period, with a significant amount of approximately Rs 70 crore being fraudulently retained and laundered.
The ED's investigation confirmed that the Proceeds of Crime (PoC) were utilized to purchase multiple properties under the names of the company and the family members of its principal promoters/directors.
Consequently, the ED provisionally attached several properties worth Rs 3.06 crore through a Provisional Attachment Order, which was later ratified by the Adjudicating Authority, as noted in the ED’s statement.
Point of View
We strive to provide accurate and comprehensive coverage. This case highlights the importance of vigilance in financial matters, especially with schemes that promise unrealistic returns. The enforcement actions by the ED are crucial in upholding accountability and protecting the interests of investors.
NationPress
9 May 2026
Frequently Asked Questions
What is the main accusation against Preeya Home Study Private Limited?
The main accusation is that the institute and its officials operated a fraudulent investment scheme, leading to a Rs 70 crore fraud and money laundering.
What does the term 'Earn While You Learn' signify in this context?
'Earn While You Learn' was the misleading promise made to investors, encouraging them to invest in the fraudulent scheme under the guise of educational opportunities.
What actions has the ED taken in this case?
The ED has filed a chargesheet against the institute and its officials, initiated an investigation based on multiple FIRs, and provisionally attached properties worth Rs 3.06 crore.
How did the fraudulent scheme operate?
The scheme operated through misleading advertisements and seminars, inducing investors to pay membership fees with promises of unrealistic returns.
What law governs the charges filed by the ED?
The charges are filed under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
