Ranchi, Sep 18 (IANS) Businessman Vinod Sinha, a prime accused in a Rs.2,500 crore money laundering scam allegedly involving former Jharkhand chief minister Madhu Koda, was sent to 10 days’ custody of the Central Bureau of Investigation (CBI) by a court here Saturday.
Sinha, a suspected close aide of Koda, was presented before CBI court judge Pankaj Kumar who granted his 10 days’ remand to the investigating agency.
Sinha was arrested Thursday in New Delhi and flown to Ranchi to attend the court proceedings Saturday. A Delhi court Friday granted his three days’ transit remand to CBI for taking him to Ranchi.
The income tax (IT) department and the enforcement directorate (ED) raided 69 places in the country, including the house of Koda, Sinha and others, after which an arrest warrant was issued against him.
Sinha floated more than half a dozen companies and invested thousands of crores of rupees in many foreign countries through hawala (money laundering), investigating agencies said.
Sinha used his links with the former chief minister between September 2006 and August 2008 to expand his business and earn money illegally, the agencies said.
Two hawala traders Manoj Punamiya and Arvind Vyas were arrested two months ago. It was alleged that the two sent hundreds of crores of rupees on behalf of Koda and his associates to foreign destinations including Dubai, Thailand and others.
Another accused and close associate of Koda, Sanjay Chaudhary, is still at large.
Koda is in jail since November last year in connection with the scam. The scam’s investigation was handed over to the CBI on the direction of the Jharkhand High Court.
According to investigating agencies, Koda and his aide are accused of causing a loss to the Jharkhand treasury by awarding illegal mining contracts across the state
