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Attachment of assets of retired EPFO ​​employee who misappropriated pensioner funds

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Attachment of assets of retired EPFO ​​employee who misappropriated pensioner funds

New Delhi, Nov 22 (PTI) The Enforcement Directorate (ED) has attached the assets of a retired EPFO ​​employee against whom it is alleged to have illegally transferred pensioners funds worth Rs 1.64 crore to his personal accounts in Andhra Pradesh. The agency gave this information on Monday.

The ED said in a statement that assets worth Rs 1.13 crore of retired Section Supervisor of the Kadapa Sub-Regional Office of the Employees’ Provident Fund Organization (EPFO) Kondapalli Satyanarayana Rao and his family members have been attached under the Prevention of Money Laundering Act (PMLA). .

It has said that the attached properties include a residential flat worth Rs 98.68 lakh and a bank balance of Rs 12.64 lakh.

The ED alleged, “Bank Reconciliation Statement (BRS) data was downloaded through the system protocol available in the Electronic Data Processing Report and copied into a CD and handed over to the banks, containing the number of pensioners. And there was no hard copy of the summary report showing the amount of pension to be disbursed. Because of this, there was scope for tampering in it.

It said the data was uploaded by the banker ‘without any cross-verification’.

“The investigation found that a total amount of Rs 1.64 crore was deposited in the accounts of the accused and his close relatives between 2011-2014,” the statement said.

The ED had registered a money laundering case against Rao and his family after perusing the FIR of the Hyderabad-based CBI Anti-Corruption Bureau.

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