ED attaches properties worth Rs 6 cr of medical scam accused in TN

ED attaches properties worth Rs 6 cr of medical scam accused in TN

 The Enforcement Directorate (ED) on Friday attached properties worth Rs 6 crore of B Madan, an accused in the multi-crore medical seat scam in Tamil Nadu.

ED joint director,  K S S V Prasad, said immovable properties worth Rs 6.35 crore belonging to Madan of Vendhar movies have been attached under the provisions of the Prevention of Money Laundering Act (PMLA), 20O2, for cheating the public to the tune of Rs 91 crore in the guise of getting medical admissions to SRM Group of Institutions.

 He said the probe agency has registered a case under the PMLA against Madan and others, based on an FIR by the central crime branch police. He had collected several crores of rupees by promising admission to the medical college and then  disappeared with it.

 About 133 parents have registered complaints against Madan and it is estimated that he had collected about Rs 91 crore.

During probe, those cheated by Madan said that they paid him from Rs 50 lakh to Rs 1.05 crore in cash, to secure admissions for their children in the SRM Medical  College.

 The central probe agency said Madan in his voluntary statement admitted of collecting about Rs 91 crore from the parents. But he claimed that he has paid this money to the SRM management on a weekly basis.

 However, the SRM management has denied of having received money from him.
Further investigation also revealed that Madan had acquired several properties during this period, but could not show any legitimate source of income for buying them.

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