ED attaches Mangalagiri NRI Academy properties of Rs. 307.61 crores in money laundering case
The Enforcement Directorate has attached properties to the tune of Rs. 307.61 crores including Rs. 15.61 crores in bank accounts
- Andhra Pradesh
NewsTAP Bureau- Updated On:12 May 2023 6:05 AM GMT
VIJAYAWADA: The Enforcement Directorate has attached properties to the tune of Rs. 307.61 crores including Rs. 15.61 crores in bank accounts, land and buildings in the two Telugu states belonging to NRI Academy of Medical Sciences in Mangalagiri of Andhra Pradesh on Thursday in a money laundering case booked on members of the academy Nimmagadda Upendranath and Mani Akkineni.
Based on the FIR registered at Mangalagiri police station and other police stations in the state against Nimmagadda Upendranath, Mani Akkineni, and others for allegedly diverting the funds of the NRI Academy, the Enforcement Directorate started a probe in last December and conducted searches at NRIAS where it found that the members diverted huge funds of the society for their personal benefits.
The investigation agency also found that the NRI Academy amassed a huge money in liquid form during Covid -19 by collecting high charges from the patients and diverted the funds without registering them in the records.
Similarly, it is found that the aforementioned members of the society also collected the whopping amount from the MBBS students for a medical seat under the management quota.
The Enforcement Directorate also claimed that the members have established a private limited company named NRIAS Pvt Ltd and diverted the academy funds into the private limited company deceiving AP Medical Services and Infrastructure Development Corporation (APMSIDC).
