ED Attached Rs 144 crores worth Bank Balances and Gold Ornaments and 131 immovable assets inTelangana
Hyderabad , 24 November (H.S)Enforcement Directorate has provisionally attached assets worth Rs.144.4 Crore under Prevention of Money Laundering Act (PMLA), 2002, belonging to the then Director of IMS and other IMS officials, their family members and suppliers of medicines in Insurance Medical Scheme (IMS) Scam of Telangana State. The attached assets are in the form of both movable and immovable assets.
ED initiated money laundering investigation on the basis of 8 FIRs registered by Telangana ACB, Hyderabad, against the officials of IMS, Telangana, alongwith private persons including suppliers of medicines to IMS for violations in tendering process, misappropriation of Government funds and causing loss to the State exchequer to the tune of more than Rs. 211 Crore.
The then Director IMS, Dr Devika Rani, in collusion with the Joint Director IMS, and other staff of IMS have blatantly violated all norms of the Government Orders and all prudent office procedures, and issued Purchase Orders to firms mostly belonging to Supplier K Srihari Babu and also benami firms set up by Dr Devika Rani, P Rajeshwar Reddy etc. Medical items were purchased at grossly inflated prices. Indents of dispensaries were fabricated and stock registers were fabricated to siphon off the medicines.
Dr K Padma, Joint Director IMS, was found to be siphoning off medicines & supplies in the name of medical camps. Patented products were sold in a cyclical manner and ultimately purchased by IMS at 4-5 times their normal market rate.
Dr Devika Rani, Pharmacist Nagalaxmi, and their families in order to layer and conceal the bribe money, entered into a conspiracy with M/s PMJ Jewellers and over a period of one year, regularly channeled their bribe money and purchased costly jewellery worth around Rs 6.28 Crore from Proceeds of Crime. Dr Devika Rani, Pharmacist Nagalaxmi, and their families also gave large cash advances to purchase prime real estate.
Cash was also deposited in their Bank accounts at regular intervals and once layered; the same was used to buy immovable properties. These proceeds of crime have been well layered by showing excess profit or cash infusion in their personal Bank accounts or accounts of various shell firms.
ED has done fund trail investigation and till now identified and attached 131 immovable assets consisting of 97 plots, 6 Villas, 18 commercial shops, 6 agricultural lands and 4 flats in and around Hyderabad, Telangana, Andhra Pradesh, Bangalore and Noida; and movable assets in the form of securities and fixed deposits; total valued at Rs. 144.4 Crore, acquired by these accused persons.
Further investigation is under progress.
