The Enforcement Directorate has attached assets worth over Rs. 104 crore belonging to T D Naidu, Chairman of Deen Dayal Medical and Educational Trust, in connection with two different cases.
According to a statement that was issued by the office of the Joint Director, Enforcement Directorate, Chennai Zonal Office, “Enforcement Directorate, Chennai, attached properties of above Rs 104 crore of T D Naidu, Chairman of Deen Dayal Medical and Educational Trust, Thiruvallur under the provisions of Prevention of Money laundering Act, 2002.”
The Tamil Nadu police registered 85 cases, against Naidu based on various complaints filed by students, alleging cheating to the tune of Rs. 16 crore for medical admission.
“It was found that he had taken huge amounts of money for admitting students into his college. It was also alleged that he refused to pay the same and threatened students,” as per the statement from the Enforcement Directorate.
The CBI Bank Fraud Cell, Bangalore, filed charge sheets against him for cheating Andhra Bank to the tune of over Rs. 69 crore and Union Bank of India to the tune of Rs. 66 crore by producing forged and fake documents.
In July 2015, Mr. Naidu was arrested under the provisions of Prevention of Money laundering Act, 2002 and was remanded to judicial custody.
He is lodged at the Central Prison, Puzhal. Post the arrest, a search was conducted at his residence on July 15 where several property documents, five vehicles worth Rs. 90 lakh and Rs. 15 lakh cash were recovered and seized.
As per the statement from the Enforcement Directorate, “Investigations revealed that proceeds of crime were invested in various immovable properties and movable properties,”
Published - August 08, 2015 12:00 am IST