In one of the biggest seizures of cash in disproportionate assets cases, Anti-Corruption Bureau officials on Tuesday recovered ₹4.47 crore from a real estate company office in Hyderabad.
This money belonged to Insurance Medical Services (IMS) former Director Devika Rani and pharmacist Naga Lakshmi, both of whom were accused of earning money disproportionate to their known sources of income, the ACB officials said.
Eventually, cases of disproportionate assets were registered against them. They were arrested and came out later on bail. During the probe of the assets case, the ACB authorities got information that the accused parked money with different persons. Investigations revealed that they invested money with a real estate company to purchase six residential flats and commercial space admeasuring 15,000 square feet.
Of the ₹4.47 crore, ₹3,75,30,000 belonged to Devika Rani and ₹72,00,000 to Naga Lakshmi, ACB Deputy Director Ramana Rao said.
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