Articles by Mahima Joshi,News18

Business

From Mhow To Faridabad: How A Chit Fund Fraud Led To The Rise Of Al Falah University

As terror knocked on the Capital’s doors on Monday, Faridabad’s Al-Falah University has found itself under intense scrutiny following the arrest of doctors linked to a “white-collar terror module” and the deadly explosion near Delhi’s Red Fort. Located in the Muslim-majority Dhauj village, the university is now at the center of investigations as agencies are probing how educated individuals, allegedly acting under the guidance of Pakistan-backed handlers, may have used the campus as a haven for radical activities. Hours after it was confirmed that Dr Umar Nabi, employed as a doctor at Al-Falah Medical College in Faridabad, was the suicide bomber who carried out the deadly blast outside Red Fort, News18‘s ground report has now found the University’s links to Mhow in Madhya Pradesh. According to the sources, the chairman of Al Falah University, whose professors were allegedly involved in the Delhi blast, Jawad Ahmad Siddiqui, is originally from Mhow, nearly 23 kilometres from Indore. News18 conducted a ground report to dive deep into the establishment of Al Falah University and found that the funds used to establish the university reportedly came from a chit fund scam in Mhow. Jawad Ahmad Siddiqui, the university’s chairman, used to live in the Kayastha Mohalla of Mhow in Madhya Pradesh. His father, Hammad Siddiqui, was once the city Qazi and was highly respected in the community. After completing his studies, Jawad Ahmad Siddiqui started a chit fund company called ‘Al Falah Investment’ in this house. The company operated for a few years, after which he shut down operations, fled with investors’ money, and later established Al Falah University in Faridabad, Haryana. The Al Falah Investment Company, founded by Siddiqui, collected funds from retired army officers, traders, farmers, and street vendors living in Mhow. Victim Of Chit Fund Scam Mausam Chaurasia, a fruit vendor who was among those duped by Jawad Ahmad Siddiqui, said that because of Jawad’s father’s respected image, many people invested their hard-earned money in his company, hoping for good returns. But Jawad fled with everyone’s money. “He lured people with promises of setting up a large factory in Pithampur that would generate employment for Mhow residents,” Chaurasia said, adding that even a grand inauguration event was also organised. The inaguration event was attended by guests from abroad. Mausam Chaurasia, who sells fruits on a cart, said he invested Rs 2–3 lakh in the company, hoping to build a house and educate his children from the profits. But all those dreams were shattered. Javed’s Neighbour Talks About His Childhood Jawad Ahmad Siddiqui’s neighbour from Mhow, who was also his junior in school, highlighted details about his childhood and said he was a simple boy. He informed that after school, Siddiqui pursued B Tech from a reputed college in Indore. He was excellent at mathematics and used to teach school children math in his home’s basement.