New Delhi, Jan 8 (UNI) The Enforcement Directorate on Saturday arrested Madhukar G Angur, former Chancellor of Alliance University on Friday in a money laundering case for allegedly misappropriating University funds to the tune of Rs. 107 crore.
Earlier, Banglore Police had registered four separate cases under various sections of IPC against Angur.
It was alleged that Angur had cheated around 4500 students’ parents to crores of rupees. The ED had initiated a money laundering investigation against this former chancellor of Alliance University and his associates on the basis of the above FIR.
During the course of investigation, it was found that Angur was involved in money laundering.
Earlier, in September last year, the ED had provisionally attached assets worth Rs 19.43 crore belonging to former chancellor of Alliance University Madhukar G Angur and his family members.
“Assets of Madhukar Angur, Priyanka M Angur, Ravi Kumar K, Shruthi and Pavana Dibbur have been attached under the provisions of the Prevention of Money Laundering Act, 2002,” it said in a statement.
According to the ED, the probe revealed that Madhukar G Angur had asked the parents to deposit the fees of their children into illegally opened bank accounts in the name of Srivari Educational Services, consequently, around Rs 107 crore was deposited in those accounts which was later siphoned off by Madhukar Angur and others during 2016 and 2017.
The ED later found that a huge amount of money was transferred from Srivari Educational Services to personal bank accounts of Madhukar G Angur, Priyanka M Angur, Ravi Kumar K, Shruthi. The same was allegedly withdrawn by them in cash for their personal benefits.
UNI ASU RJ