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Chancellor of Alliance University, was arrested in connection with a money laundering.

The Enforcement Directorate (ED) announced on Saturday that Madhukar G. Angur, the former Chancellor of Alliance University, was arrested in connection with a money laundering prevention case for allegedly misappropriating University funds by defrauding around 4,500 students' parents of Rs 107 crore.

On the basis of these FIRs, the ED launched a money laundering probe. Angur was reportedly involved in money laundering using a variety of methods, according to the ED.


Between 2016 and 2017, the three accused, Madhukar Angur, Priyanka B.S., and Ravi Kumar, physically housed themselves on the Alliance University campus in Bengaluru.

During this time, Madhukar Angur and others sent emails and physical notices to students' parents, instructing them not to deposit their children's fees in Alliance University's official accounts, but rather to deposit their children's fees in Madhukar Angur and others' illegally opened bank accounts in the name of Srivari Educational Services.

As a result, the parents of approximately 4,500 students were persuaded to deposit the fees in the aforementioned illegally opened bank accounts, totaling Rs 107 crore, which was syphoned off by Madhukar Angur and others by illegally collecting tuition fees, hostel fees, and other fees from the student community.

Also read: IRCTC Scam: Enforcement Directorate

"On Saturday, the accused was brought before the Hon'ble City Civil and Sessions Judge as well as the Special Judge for PMLA cases in Bengaluru. The ED requested that the accused be placed in judicial custody. After hearing both parties' arguments, the judge granted the ED's request. He has been detained in judicial detention for seven days, according to the court "announced an official from the Department of Education.

(IANS/PR)

(Keywords: ED, Chancellor of Alliance University, Hon'ble City Civil and Sessions Judge, Madhukar Angur, Priyanka B.S., and Ravi Kumar, Alliance University campus, Bengaluru)


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