ED raids TMC MP K D Singh's premises in money laundering probe case

The Enforcement Directorate on Thursday conducted searches at properties linked to TMC MP K D Singh in connection with a money laundering case, officials said.

The raids in Delhi and Chandigarh come at a time when Trinamool Congress 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 said the raids are being carried out to collect additional evidence in a case against the MP under the Prevention of Money Laundering Act (PMLA) and is linked to an alleged ponzi fraud and housing scam.

The scam is stated to be about Rs 1,900 crore and the agency had attached assets worth Rs 239 crore of a firm, Alchemist Infra Realty Ltd, linked to Singh, early this year.

The central probe agency had last year summoned the Rajya Sabha member, now sidelined in theTMC, as part of these investigations.

While Singh had resigned from the post of chairman of the Alchemist group in 2012, he is stated to be the chairman, Emeritus and founder of the business group.

ED's probe against Singh and the firm (Ms Alchemist Infra Realty Limited) dates back to September, 2016 when it filed a criminal case under the PMLA taking cognisance of a charge sheet filed against the company, its directors and others by market regulator Sebi.