Former TMC MP KD Singh, who was arrested by the Enforcement Directorate (ED) in connection with a money laundering case, has been sent to judicial custody till January 16 by Delhi’s Rouse Avenue Court. Singh was arrested on Wednesday under sections of the Prevention of Money Laundering Act (PMLA), reported PTI.
Reacting to the arrest, TMC MP Saugata Roy told Hindustan Times, “I don’t want to comment. Neither is KD Singh with the TMC anymore nor he is a MP now.”
The case goes back to 2016 where Singh and a firm linked to him (Ms Alchemist Infra Realty Limited) when the ED filed a criminal case under the PMLA taking cognisance of a charge sheet filed against the company, its directors and others by SEBI.
Earlier in September 2019, ED had said that it has seized cash amounts of Rs 32 lakh and USD 10,000 after it raided the “official residence” of the TMC MP in Delhi and few other locations as part of a money-laundering probe against him and others.
“During searches, a number of documents reflecting the circular nature of transactions, digital evidences and property documents were seized at the official residence of Kanwar Deep Singh in Delhi and cash of Rs 32 lakh along with foreign exchange worth USD 10,000 was found and seized,” the Enforcement Directorate had said in a statement in 2019.
The scam is stated to be about Rs 1,900 crore and the agency had attached assets worth Rs 239 crore of Alchemist Infra Realty Ltd early this year. It has been alleged by investigators that the company launched an illegal collective investment scheme, also called a ponzi or chit fund scheme, and mobilised funds of about Rs 1,916 crore from the public in the years preceding 2015.
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