ED raids Trinamool Congress MP KD Singh's premises in money laundering case

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The Enforcement Directorate on Thursday conducted searches at properties linked to Trinamool Congress (TMC) MP KD Singh in connection with a money laundering case, officials said. The raids in Delhi and Chandigarh came at a time when Trinamool Congress supremo and West Bengal Chief Minister Mamata Banerjee is in the national capital and has met Prime Minister Narendra Modi and Home Minister Amit Shah among others.

 

What do officials say?

Officials said the raids are being carried out to collect additional evidence in a case against the MP under the Prevention of Money Laundering Act (PMLA) and is linked to an alleged Ponzi fraud and housing scam. The scam is stated to be about Rs 1,900 crore and the agency had attached assets worth Rs 239 crore of a firm, Alchemist Infra Realty Ltd, linked to Singh, early this year.

 

The central probe agency had last year summoned the Rajya Sabha member, now sidelined in them, as part of these investigations. Saradha case: CBI teams visit IPS officers' mess, 5-star hotel in search for Rajeev Kumar While Singh had resigned from the post of chairman of the Alchemist group in 2012, he is stated to be the Chairman, Emeritus and founder of the business group.

 

The ED's probe against Singh and the firm (Ms. Alchemist Infra Realty Limited) dates back to September 2016 when it filed a criminal case under the PMLA taking cognizance of a charge sheet filed against the company, its directors and others by market regulator SEBI.

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