THE MONEY TRAIL
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Koda's home sealed, hidden stash traced
Published on Wed, Nov 04, 2009 at 21:16, Updated on Thu, Nov 05, 2009 at 01:01 in Politics section
Tags: Madhu Koda, Enforcement Directorate , New Delhi
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New Delhi: Once the most visited address of Ranchi, the residence of the ex-chief minister, Madhu Koda, in the Jharkhand capital now stands sealed.
On Wednesday, two note counting machines were recovered from Koda'a residence and it was also revealed that his Chartered Accountant's personal computer has been reformatted, leading to a loss of possible evidence.
Soon after, the Income Tax department sealed his house.
CNN-IBN has now learnt Koda admitted during his interrogation that he stashed away Rs 375 crore in various Swiss bank accounts. The net worth of his Hawala trail is suspected to be close to Rs 2,000 crore.
Meanwhile, documents submitted in the Ranchi High Court - allegedly giving details of Koda'a various benami investments - threw up some interesting names, including the name of the Mumbai Congress Chief, Kripashankar Singh and former railway minister and RJD leader, Lalu Prasad.
The petitioner's lawyer, Rajiv Kumar says, "The Income Tax department has raided the places according to the information that we have in the documents with us.
The people mentioned are those who played an important role in the formation of the government in the state of Jharkhand. These documents were recovered from Madhu Koda's close associates, Binod Sinha and Sanjay Chaudhary.
Questions are also being raised over Arjun Munda's involvement in the scam now. Munda was the chief minister when Koda was made the mines minister in the state.
The ED is now trying to tie all loose ends of the case and has summoned Koda and seven of his associates.
Koda who is still in a Ranchi hospital, citing ill health, is being regularly monitored with the investigators asking doctors to provide regular updates on his health. The message is clear - a stomach ailment wont be able to save the ex-chief minister of Jharkhand from facing the music for long.
HOW DID MADHU KODA BECOME A BILLIONARE FROM BEING A SIMPLE LABOURER IN JHARKHAND? |
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PROMINENT POLITICIANS LINKED TO CORRUPTION SCAMS | |
 | NATWAR SINGH: Accused of procurement of contracts in the United Nations' Oil-for-Food programme in Iraq in 2005 |
| CHAGAN BHUJBAL: Accused of involvement in Telgi fake stamp paper scam worth Rs 3,000 crore in 2003 |
| LALU PRASAD: Charged with embezzling state funds intended for animal fodder to the tune of Rs 950 crore |
| SUKHRAM: Accused of irregularities in awarding Telecom contracts in 1996 |
| LK ADVANI, ARJUN SINGH, VC SHUKLA, MADHAV RAO SCINDIA: In 1993 all of them were accused of receiving payments through Hawala brokers in the Jain Hawala scandal |
(With inputs from Jayshankar in Ranchi)
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I always wonder what do they do with hundred and thousands of crores.
They should learn
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It is a shame that only people like Koda and Mayawathi are targeted,as it is known fact that
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