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HindustanTimes Wed,16 Apr 2014

ED seizes disproportionate assets of former Jharkhand minister

HT Correspondent, Hindustan Times  Patna, July 27, 2013
First Published: 23:17 IST(27/7/2013) | Last Updated: 23:38 IST(27/7/2013)

Ten flats in Gurgaon, three in Ranchi, 40 plots spread across Jharkhand, bank accounts, fixed deposits, cash and jewellery - those were the disproportionate assets of former Jharkhand minister Kamlesh Singh that the Enforcement Directorate (ED) attached on Saturday.

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The assets seized under the Prevention of Money Laundering Act 2002, are said to be worth Rs. 5.9 crore. But sources said Singh grossly under-declared most of the real estate acquired in his name and his wife's.

"Action against Singh has been taken in connection with the Madhu Koda scam case. He was related to the group of people who benefited from it, acquired humongous assets beyond their known sources of income and indulged in money laundering. ED had registered an FIR against him on October 8, 2009," said a government source.

Former Jharkhand chief minister Madhu Koda, who is currently in jail, was arrested in 2009 after the income tax department and ED claimed to have unearthed Rs. 2,500 crore money laundering and illegal investments following country-wide raids on 70 premises.

A source from an investigation agency said the scam, which allegedly took place during the Koda regime between 2006 and 2008, could be to the tune of Rs. 3,400 crore.

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