Click to play videoNew Delhi: Former Jharkand chief minister Madhu Koda has been accused in a scam of over Rs 4,000 crore and his house in Ranchi has been raided and sealed. But the question that everyone is asking now is: Could Koda have done what he has allegedly done all by himself? The answer, authorities say, is unlikely. Helping him in taking care of the booty were two of his closest friends - Binod Sinha and Sanjay Chaudhary.
Chaibasa-based businessmen Binod Sinha and small time politician Sanjay Choudhary both come from a background that is as modest as Koda's own.
Sinha started out as a milk vendor, branching out into the business of tractors in 1998. He got into trouble with the law when he cheated the Bank of Baroda of Rs 3.5 crore of tractor subsidy. However, when Koda became chief minister, Sinha hit big time.
Income-Tax officials say Sinha's business transactions included Balaji Bullion Corporation (Rs 360 crore), Balaji Bullion Bazar (Rs 990 crore) and Balaji Bullion and Commodities (Rs 100 crore). He also purchased the defunct Indo-Asahi company and gave a loan of Rs 25 crore to another company.
The meteoric rise of Sanjay Choudhary, meanwhile, is also under the scanner.
Madhu Koda's business partner, Choudhary was a small-time politician who made his wealth in just seven years when Koda made it big. The son of a tobacco seller, Choudhary - who is based in Dubai - had invested $10 million in acquiring coal mines in Liberia.
last year, he was detained by the Mumbai customs for carrying more cash than is permitted by law while flying to Dubai. It is the source of over Rs 2,000 crore in unexplained wealth that Choudahary allegedly has which the tax men are investigating.
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