Non-bailable warrant issued against 7 Madhu Koda associate in Multi Crore Scam
merisarkar news service
New Delhi, August 23, 2010
ED is probing the matter
Non-bailable arrest warrants have been issued against seven aides of former Jharkhand chief minister Madhu Koda including an Indonesia-based businessman in connection with the multi-crore illegal investments and hawala case being probed by the Enforcement Directorate.
Sources in ED said a Prevention of Money Laundering Act court in Ranchi had issued the arrest warrants against Vijay Joshi, Manoj Kumar Sinha, Sunil Kumar Sinha, Saubhik Chattopadhyay, Rohitash Krishnan, Ajay Amolchand Bafna and Anil Adinath Bastawade on Saturday.
All of them have been evading summons issued by the Directorate. Sources in the Directorate’s Delhi office said that Bastawade is believed to be hiding in Indonesia and is alleged to be one of the key players in the scam. He is alleged to have made illegal investments to the tune of over Rs. 200 crore in Dubai alone.
Sources said Joshi was a close associate of the main front man of Koda - Binod Sinha - and was responsible for introduction of unaccounted funds in number of companies as share application or share capital amounting to about Rs80 crore.
Krishnan is alleged to have been associated with Binod in incorporation of companies and other acts in violation of PMLA Act, sources said.
"All the seven accused are involved in the financial transaction from the money generated by Koda and his associates," an ED official said.
Koda is currently in judicial custody along with two of his aides Manoj Punamiya and Arvind Vyas in the case.
The allegation is that Koda and his associates had illegally amassed huge amount of money during his term as chief minister and later routed the same to many foreign countries including Thailand, Liberia, Cooks Island and Dubai.
