TS medical scheme scam: ED attaches assets worth Rs. 144cr of ex-IMS director, other officials
ED initiated a money laundering investigation on the basis of eight FIRs registered by Telangana ACB against the officials of IMS, Telangana, and other private individuals, including suppliers of medicines, for violations in the tendering process, misappropriation of government funds, and causing loss to the state exchequer to the tune of more than Rs. 211 crore.
By Newsmeter Network Published on 23 Nov 2021 1:14 PM GMT
Hyderabad: The Enforcement Directorate (ED) has provisionally attached assets worth Rs. 144.4 crore belonging to the former director of IMS and other IMS officials, their family members, and medicine suppliers in the Telangana Insurance Medical Scheme (IMS) scam.
The attached assets are in the form of both movable and immovable assets.
ED initiated a money laundering investigation on the basis of eight FIRs registered by Telangana ACB against the officials of IMS, Telangana, and other private individuals, including suppliers of medicines, for violations in the tendering process, misappropriation of government funds, and causing loss to the state exchequer to the tune of more than Rs. 211 crore.
The then IMS director, Dr. Devika Rani, in collusion with the joint director of IMS and other staff had blatantly violated government orders and all prudent office procedures and issued purchase orders to firms mostly belonging to supplier K. Srihari Babu and also benami firms set up by Dr. Rani, P. Rajeshwar Reddy, and others.
Investigation revealed that medical items were purchased at grossly inflated prices, indents of dispensaries were fabricated, and stock registers were fabricated to siphon off the medicines. Dr. K. Padma, the joint director of IMS, had siphoned off medicines and supplies in the name of medical camps. Patented products were sold and ultimately purchased by IMS at four-time times their normal market rate.
Dr. Devika Rani, pharmacist Nagalaxmi, and their families in order to conceal the bribe money had entered into a conspiracy with M/s PMJ Jewellers and over a period of one year had regularly channeled their bribe money and purchased costly jewellery worth around Rs. 6.28 crore from the proceeds of their crime. They had also given large cash advances to purchase prime real estate.
Cash was also deposited in their bank accounts at regular intervals and once layered, the same was used to buy immovable properties. They had concealed their illegal proceeds by showing an excess profit or cash infusion in their personal bank accounts or accounts of various shell firms.
ED traced the funds and identified and attached 131 immovable assets consisting of 97 plots, six villas, 18 commercial shops, six agricultural lands, and four flats in and around Hyderabad, Andhra Pradesh, Bangalore, and Noida. It also identified movable assets in the form of securities and fixed deposits. The assets – both movable and immovable – were valued at Rs. 144.4 crore.
