The Enforcement Directorate (ED), Chennai, on Wednesday, arrested Madan of Vendhar movies under the Prevention of Money Laundering Act (PMLA), in connection with alleged cheating of public to the tune of Rs. 91 crore on the pretext of admissions in SRM Group of Institutions.
The ED stated that about 133 parents have filed complaints against Madan, who was later arrested by the Tamil Nadu Police. The parents alleged that they had paid Rs. 50 lakh to over Rs.1 crore to him.
When asked the SRM Management told the agency that it never received the said amounts, that they followed a prescribed procedure for admissions and Mr. Madan was not involved in the process.
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