ED raids Chouksey Group in Bhopal: ₹7.42 crore cash, gold seized in education fraud
Synopsis
The ED descended on 12 premises of the Chouksey Group in Bhopal, seizing ₹7.42 crore in cash and gold in a money laundering probe tied to an education society fraud. At the centre of the case is an allegation that student fees, scholarship grants, and bank loans were systematically siphoned away from the Shri Astha Foundation — a network that runs schools and hospitals across Madhya Pradesh.
Key Takeaways
The ED Bhopal Zonal Office searched 12 premises linked to the Chouksey Group and Shri Astha Foundation for Education Society on 25 June under PMLA Section 17 .
Authorities seized ₹3.97 crore in cash and ₹3.45 crore in gold jewellery — a combined ₹7.42 crore .
The probe stems from an EOW Bhopal FIR against Jaynarayan Chouksey for alleged misappropriation of society funds.
Investigators allege student fees, government scholarship grants, and bank loans were diverted to entities controlled by the accused.
Digital devices, ERP and Tally data, financial records, and property documents were also seized for further analysis.
Property attachments and additional summons are possible as the investigation continues.
The Directorate of Enforcement (ED)'s Bhopal Zonal Office conducted sweeping search operations across 12 premises linked to the Shri Astha Foundation for Education Society and the Chouksey Group on Tuesday, 25 June, under Section 17 of the Prevention of Money Laundering Act (PMLA). The raids uncovered what the agency described as large-scale financial irregularities, with authorities seizing cash and gold worth a combined ₹7.42 crore.
What Triggered the Raids
The ED launched its probe on the basis of a First Information Report (FIR) registered by the Economic Offences Wing (EOW), Bhopal, against Jaynarayan Chouksey and associates. The FIR alleged systematic misappropriation and diversion of funds belonging to the Shri Astha Foundation for Education Society, an organisation that reportedly operates multiple educational and healthcare institutions across Madhya Pradesh.
According to the ED, the society was allegedly controlled by members of the Chouksey family and their close associates, who are accused of channelling funds to related trusts, companies, and entities under their influence.
How the Alleged Fraud Operated
Investigators say funds collected from students as fees, government scholarship grants, and bank loans sanctioned in the name of the society and its institutions were allegedly diverted in a structured manner. This diversion, according to the ED, caused significant financial harm to the educational society and its stakeholders.
The searches covered a wide range of premises — residential properties, offices, educational institutions, trusts, business establishments, and one bank locker — spread across multiple locations connected to the Chouksey Group.
What Was Seized
Authorities recovered cash amounting to approximately ₹3.97 crore from various premises. In addition, gold jewellery valued at ₹3.45 crore was also seized, bringing the total value of physical assets recovered to ₹7.42 crore.
Beyond the physical assets, the ED team also seized mobile phones, digital devices, ERP and Tally accounting data, detailed financial records, property-related documents, and several other incriminating papers. Property documents pertaining to immovable assets were also recovered and are expected to provide crucial leads in tracing the alleged proceeds of crime.
What Happens Next
The ED is currently scrutinising the seized digital and documentary evidence to establish the complete money trail and identify all beneficiaries involved in the alleged diversion of funds. Officials have indicated that further action — including possible property attachments and additional summons — may follow, depending on the analysis of the recovered material.
This case has drawn considerable attention in educational circles across Madhya Pradesh. Students, parents, and staff associated with institutions managed by the Shri Astha Foundation are closely tracking further developments as the investigation intensifies.
Point of View
Public scholarship grants, and institutional bank loans all reportedly funnelled through the same network. The ED's focus on ERP and Tally data signals that investigators believe the paper trail runs deep. The real question is how many institutions across Madhya Pradesh may be implicated, and whether regulatory oversight of fee collection and scholarship disbursement in private education is adequate to prevent such schemes from operating for years undetected.
NationPress
25 Jun 2026
Frequently Asked Questions
What is the ED's case against the Chouksey Group in Bhopal?
The ED is investigating the Chouksey Group and the Shri Astha Foundation for Education Society under the Prevention of Money Laundering Act (PMLA) for allegedly diverting student fees, government scholarship grants, and bank loans to entities controlled by the accused. The probe follows an FIR by the Economic Offences Wing, Bhopal, against Jaynarayan Chouksey and associates.
How much cash and gold did the ED seize in the Bhopal raids?
The ED seized approximately ₹3.97 crore in cash and gold jewellery worth ₹3.45 crore, totalling ₹7.42 crore across 12 premises searched on 25 June.
Which premises were covered in the ED's search operations?
The searches spanned 12 premises including residential properties, offices, educational institutions, trusts, business establishments, and one bank locker, all linked to the Chouksey Group and the Shri Astha Foundation for Education Society.
What other evidence was recovered during the raids?
Besides cash and gold, investigators seized mobile phones, digital devices, ERP and Tally accounting data, detailed financial records, property documents related to immovable assets, and other incriminating papers that are expected to help trace the alleged proceeds of crime.
What action could follow after the Bhopal ED raids?
The ED has indicated that property attachments and additional summons may follow, depending on the analysis of the seized digital and documentary evidence. Investigators are working to establish the complete money trail and identify all beneficiaries of the alleged fund diversion.
