Hyderabad: The sleuths of Enforcement Directorate carried out searches in Hyderabad and seized unaccounted cash to the tune of Rs 3 crore in regard to the multi-crore Insurance Medical Services scam.
The searches were held on 10th April, 2021 at 7 locations in Hyderabad against the then Indian Medical Association director Dr Devika Rani, her husband Srihari Babu @ Babji and her benamies, namely former GHMC Corporator V Srinivas Reddy (son-in-law of Ex-Home Minister Late Nayani Narsimha Reddy), Mukunda Reddy- Personal Secretary to late Nayani Narsimha Reddy , M Vinay Reddy, (Brother-in-law of Mukunda Reddy), Burra Pramod Reddy; business premises of Omni Medi.
The searches resulted in officials seizing unaccounted cash of around Rs 1.50 Crore, Rs 1.15 Crore, Rs 45 lakh from the residential premises of V Srinivas Reddy, Burra Pramod Reddy and M. Vinay Reddy, respectively.
Besides money incriminating evidence documents and digital evidence are being seized. Searches are still going on and further investigation is on, officials said.
The central agency took up investigation under Prevention of Money laundering Act after the Telangana's Anti-Corruption Bureau booked Dr Devika Rani, her husband, Srihari Babu @ Babji of Omni Group and several others in the IMA scam. Around 8 FIRs have been registered by Telangana ACB on the allegations of financial irregularities in the purchase; supply of medicines; surgical kits.
The director and her benamies are alleged of purchasing medical equipment in gross violation to the ESCI government norms by creating fake bills, diversion of medicines, falsification of records. The scam has generated Proceeds of Crime (POC) approximately Rs. 100 to Rs. 200 Crore, officials said.