In a significant growth, the Enforcement Directorate (ED) on Wednesday has arrested former Trinamool Congress chief and Rajya Sabha MP KD Singh in a cash laundering case..
“The company has arrested Singh in reference to cash laundering probe underneath the Prevention of Cash Laundering Act (PMLA),” An ED official mentioned.
The official additionally mentioned that he will likely be produced in a court docket later within the day.
The Trinamool Congress (TMC) get together is led by West Bengal Chief Minister Mamata Banerjee and Singh is acknowledged to be not concerned within the get together affairs for fairly a while.
The central probe company had carried out searches on the premises of Singh and people linked to him in September, 2019 in reference to two PMLA instances.
In June 2019, the ED had hooked up belongings value over Rs 239 crore belonging to a agency linked to Singh. It has been alleged that the Ponzi case by which Singh’s agency is being probed is pegged round Rs 1900 crore.
Singh has been the chairman of the Alchemist group and whereas he resigned from the publish in 2012, he’s acknowledged to be the Chairman, Emeritus and founding father of the enterprise group. The ED is probing him as a part of two cash laundering instances.