Daijiworld Media Network – New Delhi

New Delhi, Apr 27: The Enforcement Directorate (ED) has uncovered a major fraud involving Rs 206 cr at FIITJEE, where funds collected from students were allegedly diverted for personal use by the management, while the promised educational services were not delivered. The coaching institute, which abruptly closed 32 centres in January, left both students stranded and faculty unpaid.

In a statement released on Saturday, the ED revealed that the institute had amassed Rs 250.2 cr from 14,411 students across four academic years, starting from 2025-2026. However, the funds were reportedly misused, and faculty salaries remained unpaid, leading to widespread complaints from across multiple cities.

The ED conducted searches at seven locations across Noida, Delhi, and Gurgaon, including the residences and offices of top FIITJEE officials, seizing Rs 10 lac in cash and jewellery worth Rs 4.89 cr. The investigation revealed that Rs 206 cr of the funds collected were linked to services that were never rendered.

FIITJEE had earlier claimed that the closures were due to the sudden departure of centre managing partners and their teams. However, the ED’s findings suggest that the crisis was exacerbated by financial mismanagement. The agency has registered a case under the Prevention of Money Laundering Act (PMLA), following multiple FIRs filed across various cities, accusing the management of large-scale financial fraud and educational malpractice.

The sudden closure of FIITJEE centres in major cities has left thousands of students in a lurch, halting their preparation for competitive exams. The ED is continuing its probe into the matter, with further investigations underway.