The Directorate of Enforcement (ED) conducted several search operations against some office bearers of the NRI Academy of Sciences for allegedly siphoning off huge money collected from Covid patients and medical students.
The search operations were conducted in the ongoing investigation at various places in Vijayawada, Kakinada, Guntur and Hyderabad under the PMLA, 2002. ED also seized cash and incriminating documents and froze the properties of various persons involved in this case.
Investigation under PMLA was initiated based on the FIRs registered by Andhra Pradesh Police to probe into the alleged diversion of funds of the society by some of the members of the society in the name of construction of buildings, collection and siphoning off huge amounts of money from Covid patients over and above the figures mentioned in the books of accounts, collection and siphoning off huge amounts of money from medical students for admission in MBBS course over and above the figures mentioned in the books of accounts, diversion of funds payable to NRI Society by floating a company by similar name such as NRIAS Private Limited etc.
53 documents of immovable properties suspected to be involved in money laundering have been seized and frozen and various other incriminating documents and electronic devices found connected with the alleged diversion of funds have also been seized.
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