Money laundering case: ED files chargesheet against ex-MU VC, family

Patna: Directorate of Enforcement (ED) on Friday said it has filed a chargesheet against a former vice-chancellor of Magadh University (MU) Bodh Gaya and his family in a money laundering case linked to disproportionate assets (DA) case.
The prosecution complaint was filed against the MU's former vice-chancellor Rajendra Prasad, his son Dr Ashok Kumar, Rajendra's brother Awadhesh Prasad, and the Pyari Devi Memorial Welfare Trust allegedly linked to them.
The chargesheet was filed before a special Prevention of Money Laundering Act (PMLA) court in the state capital here on April 15 and the court took cognizance on the same day, the central govt's agency said in a statement on Friday.
The ED initiated an investigation based on an FIR registered by Special Vigilance Unit (SVU), Patna, under various sections of Prevention of Corruption Act, 1988 and IPC, 1860 against Prasad and others. The FIR and chargesheet filed by the SVU, alleged that Prasad, from Sept 2019 to Nov 2021, while working as vice-chancellor, MU, acquired disproportionate assets valued at over Rs 2.66 crore.
"In addition to this, during the investigation under the PMLA, 2002, more assets valued at Rs 64.53 lakh (approx) were identified by the ED which were acquired by Prasad during this period which is nothing, but the Proceeds of Crime (POC) generated by him," the ED said.
"The ED investigation revealed that from Sept 2019 to Nov 2021, Prasad used this POC to acquire five properties in cash in the name of his son Ashok Kumar and the R P College represented by his brother Awadhesh Prasad. The properties which were acquired in the name of R P College have been finally transferred to the Pyari Devi Memorial Welfare Trust on lease. Prasad also deposited the POC generated in cash in the bank account of the Pyari Devi Memorial Welfare Trust (a family-owned trust of Rajendra Prasad) to portray it as income of the said body. Investigation has revealed that a well-planned conspiracy has been hatched by Prasad, involving his family members, to project the properties acquired with POC as untainted properties by using the said family-owned trust as a conduit," the ED said.
Further investigation in the case is under progress, the ED said.