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ShareNew Delhi: The enforcement directorate (ED) on Friday made the first arrest in the scam involving former Jharkhand chief minister Madhu Koda, even as investigators found diary jottings with names of prominent politicians.
The investigators, however, say the jottings, attributed to Binod Sinha, a close aide of Koda, is not evidence enough to nail anybody. The diary includes the names of a prominent Bihari politician and former cabinet minister, and a Congress leader.
"It (the jottings) needs to be corroborated. We will examine Binod Sinha," a senior probe official said. Sinha, however, has not responded to the ED summons. The directorate has now issued a look-out notice against him and another accused, Sanjay Choudhary.
ED officials, meanwhile, have arrested Binod's brother Vikas. They claim there is indisputable evidence against him of making cash transactions on behalf of Binod and Koda. Binod and Vikas were directors on the board of Shiv Rama Sponge and several other companies. "Vikas has admitted that he carried Rs40 crore to Kolkata to hand over the amount to Budh Narayan Gupta, a junior of Koda's chartered accountant SK Naredi," said a senior ED official.
Ten people have been questioned by the ED so far. Naredi has reportedly given evidence for about Rs11.80 crore in undisclosed income of Vikas and Binod, besides several other "accommodation entries" totalling Rs4.80 crore of firms that exist only on paper. Naredi has also given proof for Rs7.34 crore of Rs17 crore spent by Binod to buy Shiv Ram Sponge, ED sources said.
Vijay Joshi, a partner of Vikas and Binod in the firm, has revealed that "he got 15% shares of Emmar Alloys with share capital worth Rs10.70 crore, without paying the application money, which was arranged by the Sinha brothers".
"Koda's PA Arun Kumar Srivastava has also stated that Vikas Sinha was working with others to launder the proceeds of the crime," a senior ED official said. The investigators said they would arrest Koda once the process of evidence collection was complete.
Koda, who is suspected to have stashed money in Swiss bank accounts, besides investing in mines and properties abroad, made money through mine leases, electrification deals and transfer postings, sources alleged.
