ED attaches the properties of the former Chancellor of Alliance University
The Directorate of Enforcement (ED) has provisionally seized assets worth Rs 19.43 crore belonging to former Alliance University Chancellor Madhukar G Angur and members of his family.
In a press release, the ED said: “The assets of Madhukar Angur, Priyanka M Angur, Ravi Kumar K, Shruthi and Pavana Dibbur were seized under the provisions of the Prevention of Money Laundering Act 2002. money”.
A bank account, six apartments and two land have been attached.
The ED had opened a money laundering investigation against Madhukar G Angur and his associates on the basis of an FIR recorded by the Bengaluru police.
The ED said: “The investigation revealed that Madhukar G Angur asked parents to deposit their children’s school fees into illegally opened bank accounts in the name of Srivari Educational Services. As a result, approximately Rs 107 crore has been deposited into these accounts. This amount was embezzled by Madhukar Angur and others in 2016 and 2017. ”
The investigation further revealed that a huge amount of money had been transferred from the bank account of Srivari Educational Services to the personal bank accounts of Madhukar G Angur, Priyanka M Angur, Ravi Kumar K, Shruthi and that the same amount had been withdrawn by them in cash and used for their personal benefit.
Alliance University has often been mired in controversy. A former vice-chancellor of the university, Ayyappa Dore (53), was assassinated in November 2020 and the main accused in this case is Sudhir Angur, who is the brother of Madhukar Angur.