“The rip-off has generated proceeds of crime of about Rs 100-Rs 200 crore,” the ED alleged.
New Delhi:
The Enforcement Directorate on Saturday stated it performed raids in Telangana, together with in opposition to the son-in-law of former state minister late Nayani Narsimha Reddy, in reference to a cash laundering probe linked to alleged fraud within the IMS and ESIC departments of the state.
The central probe company in an announcement stated that it has seized a “great amount of incriminating proof, unaccounted money to the tune of Rs 3 crore, jewelry of Rs 1 crore, clean cheques, property papers and lockers and so forth” throughout searches at seven areas in Hyderabad.
Raids are nonetheless being performed, the Enforcement Directorate (ED) stated.
Searches had been carried out on the residential premises of Dr Devika Rani, Srihari Babu alias Babji, V Srinivas Reddy, the son-in-law of Nayani Narsimha Reddy, Mukunda Reddy, private secretary to the previous minister, M Vinay Reddy, the brother-in-law of Mukunda Reddy, Burra Pramod Reddy and enterprise premises of Omni Medi, it stated.
“Unaccounted money of round Rs 1.50 crore, Rs 1.15 crore, Rs 45 lakh was seized from the residential premises of V Srinivas Reddy, Burra Pramod Reddy and M Vinay Reddy respectively,” the ED stated.
The company stated it initiated the probe within the case underneath provisions of the Prevention of Cash Laundering Act (PMLA) in opposition to the then director for IMS (Insurance coverage Medical Companies) Dr Devika Rani, her husband Srihari Babu alias Babji of Omni Group and a number of other others on the idea of eight FIRs registered by the Telangana anti-corruption bureau.
The bureau charged them on allegations of monetary irregularities within the buy and provide of medicines and surgical kits, big worth escalation, gross deviations from the Worker State Insurance coverage Company (ESIC) and authorities norms.
They had been additionally charged for creation of pretend indents, faux payments, diversion of medicines, falsification of information amongst others.
“The rip-off has generated proceeds of crime of about Rs 100-Rs 200 crore,” it alleged.
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