Click to play videoNew Delhi: Former Jharkhand chief minister Madhu Koda cracked up after more than 72 hours of intense interrogation and has been admitted in a hospital in Ranchi following complaints of stomach pain.
Koda was a window grill worker and went on to become the first Independent MLA to occupy the chief minister's post in the state. He clearly seems to be running out of luck as investigators unravel the huge empire that he built over the last four years.
CNN IBN has learnt that Koda's escape to the hospital may be a bit too late as investigators have already dug out a lot of information against him.
Raids have been conducted almost all across the country including Ranchi, Jamshedpur, Kolkata, Mumbai, Delhi, Nagpur and Nasik.
After the raids, the Income Tax sleuths have managed to establish a clear trail linking Koda to almost Rs 4,000 crore of ill gotten wealth.
Koda allegedly used to be in touch with two individuals in Mumbai, Vinod Sinha and Sanjay Chaudhary, both of whom incidentally are natives of Jharkhand.
Till just five years back Sinha used to be a milk vendor while Chaudhary's father was a person selling tobacco products on a cycle.
But in the tenure that Koda became the chief minister, Sinha suddenly managed to procure property in different places in Jharkhand itself worth Rs 200 crore, an iron sponge mill worth Rs 18 crore situated in Chandil in Jamshedpur, a rolling mill worth over Rs 13 crore and two flats in Jamshedpur.
Investigators allege all this was Koda's money being invested in Sinha's name.
Sinha and Chaudhary allegedly colluded with Manoj Punamiya to launch a firm named Balaji Bullion and Retailers.
Almost Rs 2000 crore were also allegedly diverted to a Dubai based man named Abdul Bhai by this group.
CNN-IBN has learnt that the Enforcement Directorate has now got a confession from Arvind Vyas, another director of Balaji Bullion that he organised a sum of Rs 10 crore to be given to Chaudhary in Dubai.
It's this confession which the sleuths are banking on to nail Koda.
It was Chaudhary who was ensuring that the money made by Koda was invested in hotels, real estate projects and mines in different parts of the world.
However, Punwania has denied the allegation.
"All these are false allegations. I have nothing to do with them," said Punwania.
In 2005 Koda's affidavit showed a parental house worth Rs 1 lakh, Rs 30,000 in cash and Rs 10 lakh worth of investments and bank deposits.
In 2009 Koda is a man worth almost Rs 4,000 crore. It seems that one of the poorest states in the country has produced one of the biggest scams seen in the recent times.
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