The Enforcement Directorate has arrested former TMC MP Ok D Singh in reference to a money laundering case, official sources stated on Wednesday. They stated Singh has been positioned below arrest below sections of the Prevention of Money Laundering Act (PMLA).
The Trinamool Congress (TMC) social gathering is led by West Bengal Chief Minister Mamata Banerjee and Singh is believed to be not concerned in the social gathering affairs for fairly a while.
The central probe company had carried out searches on the premises of KD Singh and people linked to him in September 2019 in reference to two PMLA instances.
Singh has been the chairman of the Alchemist Group and whereas he resigned from the submit in 2012, he’s said to be the Chairman, Emeritus and founding father of the enterprise group.
The ED is probing him as a part of two money laundering instances.
The rip-off is said to be about Rs 1,900 crore and the company had hooked up belongings value Rs 239 crore of Alchemist Infra Realty Ltd early this 12 months.
It has been alleged by central investigators that the corporate launched an unlawful collective funding scheme, additionally known as a ponzi or chit fund scheme, and mobilised funds of about Rs 1,916 crore from the general public in the years previous 2015.