New Delhi, Searches against a Telangana-based charity group have found that around Rs 300 crore in foreign funds raised partly from domestic donations in the name of providing education and free meals to downtrodden children were diverted for "non-profit" purposes. authorized", according to the Execution Directorate. he said Tuesday.
The raids were carried out at 11 locations of the charity group Operation Mobilization (OM) and its key officials in and around Hyderabad on June 21 and 22, the federal agency said in a statement.
The money laundering case arises from a CID FIR by the state police that alleged that the charity group and others raised "substantial" funds of around Rs 300 crore from foreign donors based in US, Canada, UK , Australia, Argentina, Denmark, Germany, Finland. , Ireland, Malaysia, Norway, Brazil, Czech Republic, France, Romania, Singapore, Sweden and Switzerland in the name of providing free education and meals to Dalit and oppressed children.
These children, according to the CID FIR, were studying in more than 100 Good Shepherd schools run by the group that allegedly "diverted" the said funds for asset creation and other "unauthorized" purposes.
"The CID investigation found that by suppressing the fact of student sponsorship, students were charged tuition and other fees ranging between Rs 1,000 and Rs 1,500 per month and substantial funds were deposited in fixed deposits and/or diverted to other related entities of the O M. group.
"Funds were also received from the government under the Right to Education Act, but they were not properly recorded and other income was not declared in the books of accounts," the ED alleged.
He said an investigation found that several suspicious transactions indicated "diversion" of funds from the OM charity group and multiple immovable properties of the group's key functionaries spread across Telangana, Goa, Kerala, Karnataka and Maharashtra.
"FCRA registrations for most of the group entities were not renewed and to avoid this, foreign funds received in the FCRA registered 'O M Book Foundation' were diverted to other group entities as loans not yet have been refunded," he said.
The group's officials were employed as consultants in shell entities incorporated in Goa and were receiving salaries, the ED said.
The searches led to the seizure of "incriminating" documents, digital devices, records of "clandestine" transactions, properties and benami companies, the agency said.
The raids were carried out at 11 locations of the charity group Operation Mobilization (OM) and its key officials in and around Hyderabad on June 21 and 22, the federal agency said in a statement.
The money laundering case arises from a CID FIR by the state police that alleged that the charity group and others raised "substantial" funds of around Rs 300 crore from foreign donors based in US, Canada, UK , Australia, Argentina, Denmark, Germany, Finland. , Ireland, Malaysia, Norway, Brazil, Czech Republic, France, Romania, Singapore, Sweden and Switzerland in the name of providing free education and meals to Dalit and oppressed children.
These children, according to the CID FIR, were studying in more than 100 Good Shepherd schools run by the group that allegedly "diverted" the said funds for asset creation and other "unauthorized" purposes.
"The CID investigation found that by suppressing the fact of student sponsorship, students were charged tuition and other fees ranging between Rs 1,000 and Rs 1,500 per month and substantial funds were deposited in fixed deposits and/or diverted to other related entities of the O M. group.
"Funds were also received from the government under the Right to Education Act, but they were not properly recorded and other income was not declared in the books of accounts," the ED alleged.
He said an investigation found that several suspicious transactions indicated "diversion" of funds from the OM charity group and multiple immovable properties of the group's key functionaries spread across Telangana, Goa, Kerala, Karnataka and Maharashtra.
"FCRA registrations for most of the group entities were not renewed and to avoid this, foreign funds received in the FCRA registered 'O M Book Foundation' were diverted to other group entities as loans not yet have been refunded," he said.
The group's officials were employed as consultants in shell entities incorporated in Goa and were receiving salaries, the ED said.
The searches led to the seizure of "incriminating" documents, digital devices, records of "clandestine" transactions, properties and benami companies, the agency said.
