The Enforcement Directorate (ED) on Friday said it has seized cash of Rs 32 lakh and USD 10,000 after it raided the “official residence” of TMC Rajya Sabha MP K D Singh in Delhi and few other locations as part of a money laundering probe against him and others.
The ED had on Thursday conducted searches at the seven locations on the premises linked to TMC MP in Delhi and Chandigarh including at registered offices of 14 group companies of the Alchemist Group.
“During searches, a number of documents reflecting the circular nature of transactions, digital evidences and property documents were seized at the official residence of KD Singh in Delhi and cash of Rs 32 lakh along with foreign exchange worth 10,000 US Dollar was found and seized,” the ED said in a statement.
According to a senior ED official, these searches were carried out in connection with a Ponzi scheme and housing fraud. The case allegedly involves Rs 1,900 crore. The ED alleged that it sent several summons to Singh, but did not get proper cooperation in the investigation.
In the case involving Alchemist Infra Realty Limited, the ED had in January attached assets worth Rs 239 crore. Singh headed the Alchemist Group till 2012.
The attached properties are located in Chandigarh, Panchkula, Derabassi and SAS Nagar in Punjab and in Himachal Pradesh’s Shimla. The balance in two bank accounts was also attached.
The raids and the latest seizure information come at a time when TMC chief and West Bengal Chief Minister Mamata Banerjee is in the national capital and has met Prime Minister
Narendra Modi and Home Minister Amit Shah among others.
Officials had said on Thursday that the raids are being carried out to collect additional evidence in the case booked under the Prevention of Money Laundering Act (PMLA) against the MP and others and is linked to an alleged ponzi fraud and housing scam.
The ED probe is based on a prosecution complaint filed by the Securities and Exchange Board of India (SEBI) against the company and its directors in March 2016.