Enforcement Directorate raids TMC MP KD Singh's premises at multiple locations
New Delhi, Sep 20 (UNI) Enforcement Directorate carried out searches at seven locations in New Delhi and Chandigarh including registered offices of 14 group companies of Alchemist Group which is owned and controlled by Trinamool Congress Rajya Sabha MP K D Singh.
The raids come at a time when Trinamool Congress Chief Mamata Banerjee was meeting with the Union Home Minister Amit Shah here on Thursday.
Singh's official residence at Tughlaq lane, New Delhi, Chandigarh and residences of two directors of different companies were searched in connection with a probe into money laundering initiated on the basis of FIRs of Kolkata Police against various group companies.
During searches, a number of documents reflecting the circular nature of transactions, digital evidences and property documents were seized at the official residence of Singh in Delhi and cash of Rs 32 lakhs along with Foreign Exchange worth 10,000 US Dollar was found and seized, the probe agency said here on Friday.
The federal probe agency's investigation under PMLA was initiated in 2018 on the basis of FIRs registered by Kolkata Police under Section 406,420,120-B of IPC against K D Singh, his son Karandeep Singh, Alchemist Township India Limited, Alchemist Holdings Limited and various other group’s companies and Directors for cheating thousands of customers.
“Mr Singh through companies namely Alchemist Township India Limited and Alchemist Holdings Limited had raised huge amount of money from thousands of customers in the garb of investments by luring them of high returns and also against sale or booking of plots and flats”, the probing agency said.
So far investigation has revealed that, these funds raised from public were not used for the intended purpose and were diverted and siphoned off to various group companies.
Money so collected from the innocent public have been transferred in a circular manner in order to conceal and layer it in a fraudulent manner. Further, various entities involved in this process are having dummy Directors who had no idea to state the purpose for which the said money was being collected and transferred,the ED officials said.
ED is also investigating one more case against Alchemist Infra Reality Limited based on SEBI prosecution complaint and has attached property worth Rs 239.29 crore.
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