The Enforcement Directorate has attached assets worth ₹307.61 crore in a money laundering case against some members of the NRI Academy of Medical Sciences (NRIAS) and others.
While ₹15.61 crore was lying in the bank accounts, the other attached properties are located in Andhra Pradesh and Telangana. The agency has taken action based on the cases registered by the Andhra Pradesh Police against Nimmagadda Upendranath, Mani Akkineni and others, alleging that the NRIAS funds were siphoned off.
Collected in cash
“During COVID-19, patients were charged exorbitant rates (much above the rates prescribed by the government) and the charges were collected in cash, which was never recorded in the books of accounts and subsequently diverted by the members and officials of the society. Similarly, admission fee from the MBBS/post-graduate students under the management quota was collected in cash,” alleged the ED.
They also allegedly resorted to collection of fees from students under the management quota in foreign currency in some of their societies formed in the U.S.A., instead of receiving the same in the accounts of NRIAS in India, as per the ED statement.
According to the agency, the accused also floated a private limited company, NRIAS Pvt. Ltd., which was “deliberately chosen to deceive and induce” Andhra Pradesh Medical Services and Infrastructure Development Corporation and others to deposit the amounts payable to the society for certain projects directly into the accounts of the said private company.
“Further, funds of the society were also diverted to associated entities and others in the guise of payment of taxes, construction activities, etc.,” the agency alleged.
