SoftBank Group Corp. founder Masayoshi Son said he wouldn't have sold off Nvidia Corp. shares if his company had unlimited money to bankroll its next investments in artificial intelligence, which include a big bet on OpenAI.Son, addressing for the first time the surprise November disclosure that
ED raids 25 Al-Falah University-linked sites; focus on shell firms, money laundering amid 'white collar' terror probe
The Enforcement Directorate conducted searches at over 25 locations linked to the Al-Falah group in Delhi NCR as part of a money laundering probe. The investigation focuses on financial irregularities, shell companies, and potential links to a "white-collar" terror network, with a vehicle connected to the Red Fort blast also recovered.
The Enforcement Directorate (ED) on Tuesday executed search actions at over 25 premises connected to the Al-Falah group, in Delhi NCR. The operation forms part of an ongoing investigation into financial irregularities, use of shell companies, accommodation entities and money laundering.
The role of Al-Falah Trust and related entities is under investigation, and key personnel overseeing finance and administration have also been covered, as part of this probe.
ED is examining nine shell companies linked to the group, all registered at a single address, per the information sourced by ET. Early findings point to multiple risk indicators consistent with shell-company behaviour, including:
▪ No physical presence or meaningful utility consumption at declared places of business.
▪ Common mobile number and email across various companies and accounts.
▪ Absence of EPFO/ESIC filings inconsistent with reported scale of operations.
▪ Overlapping directors/signatories and weak KYC trails across entities.
▪ Minimal salary disbursal through banking channels and absence of HR records.
▪ Synchronized incorporation patterns and common contact coordinates across firms.
In addition, prima facie discrepancies have been noted in claims regarding UGC and NAAC recognition. These aspects are being examined with the concerned authorities.
White collar terrorism, financial frauds suspected
The action is being taken “under the anti-money laundering law following cognisance of the first information reports filed by the NIA and the Delhi Police in the case”, sources known to PTI said. Investigators are examining suspected financial and organisational links as part of what officials describe as a “white-collar” terror network involving professionals, including doctors, and individuals associated with academic institutions.Notably, the trustees of the university are also under scanner.
The university's main campus — a medical college-cum-hospital located in the Dhouj area of Faridabad district — is among the locations being examined.
The wider investigation has led to the recovery of a vehicle believed to be connected to the Red Fort blast, along with large quantities of explosives. Agencies are probing how the network was funded and whether institutional structures were used to facilitate movement of money or material.
So far, NIA has arrested two individuals described as close aides of “suicide bomber” Dr Umar Nabi, and the financial trail connected to this group is now a key focus of the ED's money-laundering probe.
The investigation is under progress.
Add as a Reliable and Trusted News Source Add Now!
Source: EconomicTimes
Related Posts: Enforcement Directorate summons Robin Uthappa Enforcement Directorate summons Robin Uthappa Rs 4.5 Crore Assets Seized In MP Education Scam By Enforcement Directorate ED searches 5 locations in Delhi Trump's immigration enforcement record so far India, Canada agree on security, law enforcement work plan after thaw in relations Did Trump carry out largest US enforcement operation Trump Names Colin McDonald As Top Investigator For Fraud Enforcement Israel Says It Has ‘Renewed Enforcement’ Of Ceasefire After Airstrikes In… Immigration enforcement
SoftBank Group Corp. founder Masayoshi Son said he wouldn't have sold off Nvidia Corp. shares if his company had unlimited money to bankroll its next investments in artificial intelligence, which include a big bet on OpenAI.Son, addressing for the first time the surprise November disclosure that
3 months ago
