Thomas (Special Correspondent)
The Enforcement Directorate has provisionally attached assets worth Rs.19.43 Crore belonging to Madhukar G Angur,Priyanka M Angur,Ravi Kumar K,Shruthi and Pavana Dibbur under the provisions of the Prevention of Money Laundering Act.
The attached assets are in the form of one bank account,06 flats and 02 pieces of land.
The ED initiated money laundering investigation on the basis of a FIR registered by Bengaluru Police against Madhukar G Angur, Ex-Chancellor, Alliance University,Bangalore and his associates under various sections of Indian Penal Code.
Money laundering investigation carried out so far has revealed that Madhukar G Angur asked the parents to deposit the fees of their children into the illegally opened bank accounts in the name of Srivari Educational Services.
Hence,the parents of about 4500 students were persuaded to deposit the fees in the said illegally opened bank accounts and amounts to the tune of approximately Rs.107 Crore were deposited and siphoned off by Madhukar Angur and others during the year 2016 and 2017,in the name of collecting the tuition fees,hostel fees and other fees illegally from the student community.
Investigation further revealed that a huge amount of money was transferred from,Srivari Educational Services bank account to personal bank accounts of Madhukar G Angur,Priyanka M Angur,Ravi Kumar K,Shruthi and the same were withdrawn by them in cash and utilized for their personal benefits.The ED officials are further investigating.
Alliance University has often been mired in controversy. A former vice-chancellor of the university, Ayyappa Dore (53), was murdered in November 2020 and the prime accused in the case is Sudhir Angur, who is the brother of Madhukar Angur.