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Bangalore: ED arrests Ex-Chancellor of Alliance University, Madhukar Angur in money laundering case

Enforcement Directorate has arrested Ex-Chancellor of Alliance University, Bangalore, Madhukar G. Angur in a money laundering case for misappropriating University funds to the tune of 107 Crore rupees. The agency had initiated money laundering investigation on the basis of four FIRs registered against the accused Madhukar and others.

ED said that the accused had physically lodged themselves inside the campus premises of the Alliance University, Bangalore, between 2016 and 2017. During this time Madhukar Angur and others informed the parents of the students through emails and physical notices not to deposit the fee in the official accounts of the Alliance University.

They asked the parents to deposit the fees of their children into the illegally opened bank accounts, in the name of Srivari Educational Services. It said, the parents of about 4,500 students were persuaded to deposit the fees in the illegally opened bank accounts.

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