Money Laundering
ED attaches Rs.10.29 cr of TMC over money laundering, says KD Singh's Alchemist Group paid for Mamata’s choppers during 2014 polls
The Enforcement Directorate (ED) Monday said it attached Rs.10.29 crore of the Trinamool Congress (TMC) in the form of a demand draft in connection with its money laundering probe against Alchemist Group, headed by former Rajya Sabha member K D Singh.
The probe agency alleged that the money was used by the Alchemist Group, accused in the money laundering case, for making payments to aviation companies on behalf of the TMC during the campaigning for the 2014 Lok Sabha elections.
The agency alleged that Alchemist Airways Private Limited made payments with the money to various aviation or helicopter companies for aviation services availed by the TMC party during the campaigning for the 2014 Lok Sabha elections for its star campaigners like chief minister Mamta Banerjee, Mukul Roy, Munmun Sen, Nusrat Jahan, and others.
"ED, Delhi Zonal office, has provisionally attached an amount of ₹10.29 crore of All India Trinamool Congress party in the form of a demand draft tendered by it during the investigation into the offence of money laundering by Alchemist Group and others. The Alchemist group is headed by Kanwar Deep Singh, ex-member Rajya Sabha," the ED statement read.
“An amount of ₹10.29 crore was paid by Alchemist Airways Pvt Ltd to various aviation or helicopter companies for the aviation services availed by the All India Trinamool Congress party during the campaigning for 2014 Lok Sabha elections for its star campaigners like Mamta Banerjee, Mukul Roy, Munmun Sen, Nusrat Jahan, etc," it said.
The ED arrested KD Singh in January 2021.
The probe is being conducted under the Prevention of Money Laundering Act (PMLA) based on multiple FIRs registered by the CBI and Kolkata Police against various individuals and group companies of Alchemist Group.
“The ED investigation revealed that Alchemist Group collected funds amounting to more than ₹1,800 crore from investors in its companies namely, Alchemist Holdings Limited and Alchemist Township India Limited on the false promise of providing high returns and giving flats, villas, plots, high rate of interest on the investments to the public or investors. However, the investors were never returned their money and the funds siphoned off or diverted to various group companies of Alchemist Group," the agency said on Monday.
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