The Enforcement Directorate (ED) on Saturday (April 10) conducted searches at seven places in Hyderabad in connection with the money laundering investigation into the large scale scam in Telangana IMS (Insurance Medical Services) ESI (Employees State Insurance) Department.
ED has seized large amount of incriminating evidence, huge amount of unaccounted cash to the tune of Rs 3 Crore, a crore worth of jewellery, blank cheques, property papers, lockers etc.
The money laundering investigation was initiated against the then Director of IMS, Dr Devika Rani, her husband, Srihari Babu, Babji of Omni Group & several others on the basis of eight FIRs registered by Telangana ACB.
The allegations were on the basis of financial irregularities in the purchase & supply of medicines & surgical kits, huge price escalation, gross deviations from ESIC & government norms, creation of Fake Indents, fake bills, diversion of medicines, falsification of records, etc.
The scam has generated Proceeds of Crime (POC) approximately Rs 100 to Rs 200 Crore.
The ED searches began on the Saturday (April 10) morning at the residential premises of Dr Devika Rani, Srihari Babu, Babji, V Srinivas Reddy (son-in-law of Ex-Labour Minister Late Sh Nayani Narsimha Reddy), Mukunda Reddy- Personal Secretary to Ex-Labour Minister, M Vinay Reddy- Brother-in-law of MukundaReddy, Burra Pramod Reddy & business premises of Omni Medi.
During the course of searches, unaccounted cash of around Rs 1.50 Crore was seized from the residential premise of Srinivas Redyy, Rs 1.15 crore was seized from Burra Pramod Reddy’s residence and Rs 45 lacs was seized from the residence M. Vinay Reddy.
Apart from the above, incriminating evidence, documents and digital evidence were also seized. Further investigation in the matter is underway.
(With inputs from DNA India)
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