In Telangana IMS scam, ED pays Rs. Assets worth Rs 144 crore seized

Money laundering case filed after eight FIRs of ACB

A total of 131 properties including 97 plots, six villas, 18 commercial shops, six agricultural land plots, four flats were seized.

New Delhi: The Enforcement Directorate (ED) has seized assets worth Rs 144 crore in a money laundering case in connection with an alleged insurance medical scheme scam in Telangana. The ED had issued a provisional order to seize 131 properties under the Prevention of Money Laundering Act (PMLA).

These 131 Sruthar properties include 97 plots, six villas, 18 commercial shops, six agricultural land plots, four flats in Hyderabad. It also includes properties in Telangana, Andhra Pradesh, Bengaluru and some parts of Noida. The Enforcement Directorate (ED) has also seized current assets in the form of securities and fixed deposits. The total value of all these assets is estimated at Rs 144.4 crore, the ED said in a statement.

The ED had registered a case of money laundering after studying eight FIRs lodged by the Telangana Anti-Corruption Bureau (ACB). The FIR was lodged against people, including officials of the Insurance Medical Scheme (IMS) and drug suppliers. The total loss to the state government was Rs 211 crore due to the scam perpetrated by all these accused.

The ED further said that the then director of IMS, Dr. Devika Rani along with the joint director and other staff carried out the scam. The accused have been accused of buying drugs at very high prices. False registers of drug stocks were created. Jewelery worth Rs 6.28 crore was procured through bribery.