ED Uncovers Financial Irregularities at FIIT JEE

The Enforcement Directorate (ED) has accused FIIT JEE of collecting over Rs 200 crore in fees without providing promised educational services, highlighting severe financial irregularities. The ED seized cash and assets in a money laundering probe after parents of students filed police complaints alleging fraud and breach of trust.

The Enforcement Directorate (ED) has alleged that FIIT JEE, a prominent coaching institute, collected more than Rs 200 crore in fees from students and parents while failing to provide the promised educational services, indicating significant financial irregularities.

In a statement, the federal probe agency revealed that Rs 10 lakh in cash and jewellery worth Rs 4.89 crore were seized during searches conducted as part of a money laundering investigation. The operation targeted the residences and offices of FIIT JEE Director D K Goel and other company executives.

The investigation, rooted in multiple police complaints by parents, uncovered that fees collected over four academic sessions from 14,411 students were allegedly misused. As a result, 32 coaching centers were closed, causing distress to thousands of students and parents.

(With inputs from agencies.)