Ranchi:
After four days of raids at Madhu Koda's house, the place is now officially off-limits to his family. The Income Tex Department has sealed the residence of the former chief minister. Sources say that's to safeguard documents found here; these documents reportedly incriminate Koda in a money-laundering scam worth several thousand crores.
Koda, meanwhile, is in hospital; he checked in complaining of a severe stomach ache. His discomfort could grow as the evidence against him piles up.
Thirty-eight-year-old Koda was chief minister of Jharkhand from 2006-2008. His assets add upto Rs 4,000 crores. Assets that he allegedly began collecting, illegally, when he became a minister in the new state of Jharkhand in the year 2000.
Income Tax officials believe his assets grew after he got the prized Mines Portfolio in this mineral-rich state. His trusted lieutenants were allegedly two local businessman: Binod Sinha and Sanjay Chaudhary.
Binod Sinha owns a tractor company in Chaibasa, the district where Koda began his political career. Koda allegedly acquired assets and made investments in Sinha's name. In return, Sinha got Koda to give lucrative mining contracts to businessmen who paid him a commission. It was a profitable arrangement, by all accounts. Sinha allegedly made Rs 200 crore in the last eight years. Not true, Sinha insists, adding ''I am a small businessman. This is a political conspiracy."
Sanjay Chaudhary hit the jackpot after he began supplying construction material to public works projects. This brought him into regular contact with Koda.
He, too, allegedly invested Koda's money in various projects, properties, countries. He used Koda's contacts to build his personal fortune, which today includes stakes in 16 companies, several of them big power and mining entities.
Koda, meanwhile, is in hospital; he checked in complaining of a severe stomach ache. His discomfort could grow as the evidence against him piles up.
Thirty-eight-year-old Koda was chief minister of Jharkhand from 2006-2008. His assets add upto Rs 4,000 crores. Assets that he allegedly began collecting, illegally, when he became a minister in the new state of Jharkhand in the year 2000.
Income Tax officials believe his assets grew after he got the prized Mines Portfolio in this mineral-rich state. His trusted lieutenants were allegedly two local businessman: Binod Sinha and Sanjay Chaudhary.
Binod Sinha owns a tractor company in Chaibasa, the district where Koda began his political career. Koda allegedly acquired assets and made investments in Sinha's name. In return, Sinha got Koda to give lucrative mining contracts to businessmen who paid him a commission. It was a profitable arrangement, by all accounts. Sinha allegedly made Rs 200 crore in the last eight years. Not true, Sinha insists, adding ''I am a small businessman. This is a political conspiracy."
Sanjay Chaudhary hit the jackpot after he began supplying construction material to public works projects. This brought him into regular contact with Koda.
He, too, allegedly invested Koda's money in various projects, properties, countries. He used Koda's contacts to build his personal fortune, which today includes stakes in 16 companies, several of them big power and mining entities.
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