ED attaches assets of fmr Bengaluru univ chancellor who 'duped' parents

The Enforcement Directorate (ED) on Tuesday said it has attached assets of over Rs 19 crore in a money laundering case against a former chancellor of a Bengaluru-based university who is alleged to have duped thousands of parents of students of the institution.

The assets belong to Madhukar G Angur, Priyanka M Angur, Ravi Kumar K, Shruthi and Pavana Dibbur, the agency said in a statement.

A provisional attachment order has been issued under the Prevention of Money Laundering Act (PMLA) and the properties include a bank account, six flats and two pieces of land worth a total Rs 19.43 crore.

''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,'' the agency claimed.

''Hence, parents of about 4,500 students were persuaded to deposit the fees in the illegally opened bank accounts and amounts to the tune of approximately Rs 107 crore was deposited and siphoned off by Madhukar Angur and others in 2016 and 2017 in the name of collecting tuition fees, hostel fees and other fees illegally from the student community,'' it said.

Money was ''transferred from Srivari Educational Services bank account to the personal bank accounts of Madhukar G Angur, Priyanka M Angur, Ravi Kumar K, Shruthi and the same were withdrawn by them in cash and utilised for their personal benefits'', the ED said.

The agency filed a criminal case of money laundering against the former chancellor and his family members after studying a Bengaluru Police FIR against them on these charges.