The Enforcement Directorate on Friday filed a charge sheet against former Jharkhand chief minister Madhu Koda accusing him of amassing illegal wealth of over Rs 1,340 crore in connivance with four of his close associates including a CEO of a Mumbai-based bullion firm.
The 178-page charge sheet filed before a special court also named three investments undertaken by the former chief minister in his own name totalling just Rs 39 lakh.
The rest of Mr. Koda’s alleged over Rs 1,300 crore wealth is said to have been routed through his associates — Binod Sinha, Vikas Sinha, Manoj Punamiya and Arvind Vyas. Mr. Punamiya is the chief executive officer of a Mumbai-based bullion firm.
According to the charge sheet in the multi-crore illegal investment and hawala transactions case, Mr. Koda has one acre of land costing Rs 1.5 lakh at Mesra, another land of Rs four lakh at Jaganathpur and an LIC policy worth about Rs 33 lakh.
“The tacit understanding between Madhu Koda and Binod Sinha to hide the criminal activities was clearly projected as separate, different and lawful businesses by the said four persons,” the chargesheet said, indicating the role of the four associates along with Mr. Koda.
The ED submitted that the probe in the case is an “ongoing investigation” and it is also awaiting replies to its Letters Rogatories (LRs) sent in the case to countries like Dubai, Sweden, Thailand, Indonesia and Liberia to probe illegal investments.
Mr. Koda and his associates are facing inquiries by various probe agencies like the Income Tax department, the CBI and the Jharkhand Vigilance Bureau regarding the alleged illegal investments.
The charge sheet claimed that all of these (four accused) are “deeply involved in committing the offence of money laundering.”
On November 12, last year, the CBI had filed a separate charge sheet against Mr. Koda, Mr. Binod and Mr. Sanjay.
Evidence against Mr. Koda was secured during countrywide raids, including on the premises of his associates, by the ED and the IT department in October 2009 which allegedly showed huge illegal investments and hawala transactions during Mr. Koda’s tenure as the chief minister.
Mr. Koda, who was arrested on November 30, 2009, is lodged in the Birsa Munda jail here.