The Enforcement Directorate (ED) conducted search operations in the NRI Academy of Sciences at Mangalagiri, in Guntur district, and some other places at Vijayawada, Kakinada, Guntur and Hyderabad last week. It has seized and freezed 53 documents related to immovable properties suspected to be involved in money-laundering.
The ED also seized cash and various other incriminating documents and electronic devices found to be connected with the alleged diversion of funds, and further investigation is under progress, according to an official release issued on December 7.
The ED said the searches were part of an investigation being done by it into violations of the Prevention of Money Laundering Act, 2002 (PMLA) by some members/office bearers of NRI Academy of Sciences.
The probe under PMLA was initiated on the basis of FIRs registered by Andhra Pradesh police with regard to alleged diversion of funds in the name of construction of buildings, collection and siphoning off of huge amounts of money from COVID patients over and above the figures mentioned in the books of accounts, collection of huge sums from students for admissions to MBBS courses and diversion of funds payable to NRI Society by floating a company with similar name (NRIAS Private Limited.)