ED seizes properties of NRI Academy

Hyderabad: The Directorate of Enforcement (ED) in Vijayawada has seized movable and immovable properties worth Rs 307.61 crore that belong to Nimmagadda Upendranath, Mani Akkineni, and other members of the NRI Academy of Medical Sciences (NRIAS). An investigation into the matter was initiated by the ED based on FIRs registered by Mangalagiri police of Andhra Pradesh for criminal conspiracy, cheating, and forgery related to the funds of NRIAS, a society registered under the Andhra Pradesh Societies Registration Act, 2001. During their investigation, the Enforcement Directorate (ED) claimed that the accused in the NRIAS money laundering case fraudulently siphoned off society funds and diverted them for personal gain. In addition, they charged patients above the government-prescribed rates during the pandemic and collected the money in cash without recording it in the books, which was subsequently diverted by the members and officials.