India, April 27 -- The Enforcement Directorate (ED) has uncovered an alleged fraud of over Rs.206 crore at FIITJEE, wherein the money was collected from students but the educational services were not delivered, before the coaching institute abruptly shut down 32 centres in January, leaving students stranded and faculty unpaid.

According to the ED statement released on Saturday, the collected funds were "diverted for personal and unauthorised use" by FIITJEE's management while "faculty salaries remained unpaid," triggering multiple complaints across several cities.

ED officials seized cash worth Rs.10 lakh and jewellery valued at Rs.4.89 crore during searches conducted at seven locations across Noida, Delhi and Gurgaon on Thursday, targe...