Telangana: ACB seizes Rs 4.47 cr unaccounted money of IMS Director and pharmacist invested in real-estate company

Anti-Corruption Bureau (ACB) Telangana, seized over Rs 4 crore of unaccounted money allegedly of former director, Insurance Medical Services and Pharmacist, ESI invested with a real estate company for the purchase of commercial and residential space in Cyberabad.

The sum of Rs 3,75,30,000 invested by Devika R, former director, IMS and Rs 72 lakh by Naga Lakshmi, pharmacist was seized by the ACB on September 1.

According to a note issued by the ACB, the officers had invested this amount to purchase six residential flats and 15,000 square feet of commercial space in the name of family members. R had also invested Rs 22 lakhs in the name of benamis.

The ACB said Rs 2,29,30,000 crores were paid through cheques and online transfers through various sources to purchase the property and the same is in the process of seizure.

Both the accused were arrested in disproportionate assets case and they were released on bail by Special Judge for SPE and ACB cases.

( With inputs from ANI )