Hyderabad: ACB seizes 1.99 cr in DDs invested by ex-IMS Director

The DDs seized from a chit fund company would be deposited in the special court for ACB cases

Hyderabad: Officials of the Anti-Corruption Bureau (ACB) on Wednesday seized Rs 1.99 crore in the form of Demand Drafts (DDs) allegedly invested by the former Insurance Medical Services (IMS) Director Ch Devika Rani and her family members in monthly chits scheme in Telangana and Tamil Nadu.

The DDs seized from a chit fund company would be deposited in the special court for ACB cases here, officials said.

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The court is hearing the disproportionate assets case booked against Rani and her colleagues along with the representatives of a few pharmaceutical companies. Earlier, the ACB had seized Rs 4.47 crore and Rs 2.29 crore DDs from a real estate company in which Rani and her family members and other accused had invested, according to an ACB press release.

A few months ago, the ACB arrested Rani and eight others with a huge amount of unaccounted cash. They also invested their ill-gotten money in real estate on the names of benamis. She along with her colleagues and a few representatives of pharmaceutical companies were arrested after the scam came to light in 2019.

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