A high-stakes legal offensive by the Enforcement Directorate targets Krishna Damani, trustee at South Point Education Society, over allegations of laundering more than Rs 20 crore in school money. The prosecution complaint, dated February 11, 2026, invokes PMLA provisions and has drawn a court notice under BNSS.
Triggered by police action, ED’s scrutiny revealed Damani’s stranglehold on governance, enabling rampant fund misuse. Posing as payments for manpower and services, money flowed to family-owned companies via doctored records—non-existent workers’ salaries chief among them.
Lavish personal spends, unprovided services, and lockdown ghost payments drained resources further. The laundering layered tainted funds through family payouts—wife, mother, daughters receiving inflated sums—channeled into mutual funds for concealment.
Building on Damani’s February 2024 arrest for a Rs 30 crore embezzlement plot via related firms, and ED’s 2024 operations, bail hasn’t halted momentum. This saga exposes systemic risks in trust management, promising accountability as investigations intensify for recoveries and further charges.