ED chargesheet against ex-Magadh Univ VC Dr. Rajendra Prasad for Rs 2.66 crore

The Enforcement Directorate on Friday said that it has filed chargesheet against an ex-Magadh University vice-chancellor and his family in a disproportionate assets case.

The prosecution complaint was filed against former vice-chancellor of the varsity Dr Rajendra Prasad, his son Dr Ashok Kumar, brother Awadhesh Prasad, and Pyari Devi Memorial Welfare Trust allegedly linked to them.

The chargesheet was filed before a special Prevention of Money Laundering Act (PMLA) court in Patna on April 15 and the court took cognisance on the same day, the federal agency said in a statement.

Dr Rajendra Prasad and his family members could not be contacted for a comment.

The money laundering case emerged from an investigation conducted by the Special Vigilance Unit of Bihar Police against the former vice-chancellor and others.

The Special Vigilance Unit alleged that Rajendra Prasad worked as the vice-chancellor of Magadh University in Bihar's Bodh Gaya between September 2019 and November 2021 and acquired disproportionate assets worth Rs 2,66,99,591 (more than Rs 2.66 crore) during this period.

The probe found that Dr Rajendra Prasad used these funds to acquire five properties "in cash" in the name of his son Ashok Kumar and RP College "represented" by his brother Awadhesh Prasad, the Enforcement Directorate said.

The properties acquired in the name of RP College were "transferred" on lease to Pyari Devi Memorial Welfare Trust, the probe agency said, adding the Trust is owned by Prasad's family.

Some of the "cash" was deposited in the Trust's bank account to portray it as its income, it claimed.

"A well-planned conspiracy has been hatched by Dr Rajendra Prasad involving his family members to project the properties acquired with the proceeds of crime as untainted properties by using the said family-owned Trust as a conduit," the Enforcement Directorate alleged.

The agency had earlier attached assets worth Rs 64.53 lakh as part of the probe.