Cash collected from MBBS, PG medical students, COVID-19 patients charged exorbitant rates: ED attaches Rs 307 crore worth assets of NRI Academy of Medical Sciences

Probe found, the ED alleged, that the members and officials of NRIAS “fraudulently” siphoned off huge funds of the society and diverted them for their personal gains.

“During COVID-19, patients were charged exorbitant rates (much above the rates prescribed by the government) and the charges were collected in cash which was never recorded in the books of accounts. These funds were subsequently diverted by the members and officials of the society,” it said.

Similarly, admission fee from MBBS/PG students under management quota was collected “in cash”, the agency said.

The management of the society collected management quota fees from students in foreign currency in some of their societies formed in the US instead of receiving them in the accounts of NRIAS in India, the ED found.

They also floated a private limited company, NRIAS Pvt. Ltd., which was “deliberately chosen” to deceive APMSIDC (Andhra Pradesh Medical Services and Infrastructure Development Corporation) and others to deposit the amounts payable to the society for certain projects directly into the accounts of the said private limited company instead of the bank accounts of the society, the agency said.

“The funds of the society were also diverted to associated entities and others in the guise of payment of taxes, construction activities,” it said.

The money laundering case against the society and its members was registered stems from multiple FIRs filed by the Andhra Pradesh Police against the accused.

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