Ranchi:
Income Tax officials are questioning former Jharkhand chief minister Madhu Koda today in connection with the Rs 4000-crore money-laundering scam that spans several countries and could involve some big politicians and top bureaucrats.
Koda spent a week in hospital evading the taxmen. Now, the noose is tightening around him, with one of his close associates admitting to the Enforcement Directorate of hawala transactions worth Rs 40 crore rupees.
Even as he told income tax interrogators that he was too sick to meet them, Madhu Koda spent hours meeting hundreds of supporters at his house in Ranchi on Monday.
Koda has been accused of laundering 4000 crore with the help of a few close friends. After raids began at his house and the offices of his associates around the country, Koda's stomach began hurting. So seriously that he spent a week in hospital. Doctors went on record to deny that they were helping him stay in hospital to avoid being arrested. The entire situation was made more suspicious by the fact that Koda's key accomplices, Binod Sinha and Sanjay Chaudhary, are on the run.
Unfortunately for him, Binod's brother Vikas has been caught and now details are emerging on exactly how Koda's 4000 crore were disguised and managed. Vikas Sinha has allegedly confessed on Monday that he laundered 40 crores for Koda by channeling the money into four fake companies. He also bought land for Koda in Jamshedpur and Ranchi. Other details shared by Vikas: that Koda used channels in Dubai, Hong Kong, Singapore, Thailand and Liberia to launder his money; and that Koda traded in the bullions or commodities market in Mumbai, which is largely unorganized, and therefore hard to track.
Also interrogated on Monday, Devendra Mukhiya, a close aide of Koda's who reportedly ran a finance company in Jamshedpur in which he invested Koda's money. "I have met Koda only two or three times. That does not make me an accused," says Mukhiya.
The key accused in the scam
Madhu Koda: Panchayat Raj Minister (2000-2005); Mines Minister (2005-2006); Koda's assets: Rs 4,000 crore
Binod Sinha: Owner of tractor company in Chaibasa; Koda invested money in his name. Sinha used Koda to broker mining deals. Sinha's Assets: Rs. 200 crore
Sanjay Chaudhary: Owns construction material business in Jamshedpur, invested Koda's money. Owned stakes in 16 companies
Also see: How Koda's 4000 crores were 'managed' |
Koda spent a week in hospital evading the taxmen. Now, the noose is tightening around him, with one of his close associates admitting to the Enforcement Directorate of hawala transactions worth Rs 40 crore rupees.
Even as he told income tax interrogators that he was too sick to meet them, Madhu Koda spent hours meeting hundreds of supporters at his house in Ranchi on Monday.
Koda has been accused of laundering 4000 crore with the help of a few close friends. After raids began at his house and the offices of his associates around the country, Koda's stomach began hurting. So seriously that he spent a week in hospital. Doctors went on record to deny that they were helping him stay in hospital to avoid being arrested. The entire situation was made more suspicious by the fact that Koda's key accomplices, Binod Sinha and Sanjay Chaudhary, are on the run.
Unfortunately for him, Binod's brother Vikas has been caught and now details are emerging on exactly how Koda's 4000 crore were disguised and managed. Vikas Sinha has allegedly confessed on Monday that he laundered 40 crores for Koda by channeling the money into four fake companies. He also bought land for Koda in Jamshedpur and Ranchi. Other details shared by Vikas: that Koda used channels in Dubai, Hong Kong, Singapore, Thailand and Liberia to launder his money; and that Koda traded in the bullions or commodities market in Mumbai, which is largely unorganized, and therefore hard to track.
Also interrogated on Monday, Devendra Mukhiya, a close aide of Koda's who reportedly ran a finance company in Jamshedpur in which he invested Koda's money. "I have met Koda only two or three times. That does not make me an accused," says Mukhiya.
The key accused in the scam
Madhu Koda: Panchayat Raj Minister (2000-2005); Mines Minister (2005-2006); Koda's assets: Rs 4,000 crore
Binod Sinha: Owner of tractor company in Chaibasa; Koda invested money in his name. Sinha used Koda to broker mining deals. Sinha's Assets: Rs. 200 crore
Sanjay Chaudhary: Owns construction material business in Jamshedpur, invested Koda's money. Owned stakes in 16 companies
Also see: How Koda's 4000 crores were 'managed' |
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