ED Freezes Glocal University Assets in Massive Money Laundering Probe

The Enforcement Directorate (ED) has frozen assets worth Rs 4,440 crore of Glocal University in Saharanpur under a money laundering case involving former Uttar Pradesh BSP MLC Mohammed Iqbal, who is currently absconding. The case is linked to illegal mining activities and improper financial transactions.

The Enforcement Directorate (ED) on Friday announced the attachment of assets worth Rs 4,440 crore belonging to Glocal University in Saharanpur. This move is part of an ongoing money laundering probe against the ''absconding'' former Uttar Pradesh BSP MLC Mohammed Iqbal and his family.

The ED revealed that land measuring 121 acres and properties including the university building, registered under the Abdul Waheed Educational and Charitable Trust, have been frozen. This trust is purportedly controlled by Iqbal and his family. The attachment follows a provisional order issued under the Prevention of Money Laundering Act (PMLA).

The case against Iqbal pertains to illegal mining activities. He is allegedly absconding in Dubai, while his four sons and brother are currently jailed in multiple cases. The ED links the money laundering to a CBI FIR concerning illegal sand mining leases in Saharanpur. Funds from Iqbal's mining firms were allegedly channeled through several sham entities and ultimately used for Glocal University's land and construction purchases.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)