Thaindian News

Ranchi, Sep 18 (IANS) Vinod Sinha, a suspected close aide of former Jharkhand chief minister Madhu Koda and alleged kingpin of a Rs.2,500 crore money laundering scam, was sent to 10 days’ of Central Bureau of Investigation (CBI) remand by a court Saturday.
Sinha was presented before CBI court judge Pankaj Kumar who granted his 10 days’ remand to the investigating agency.

Sinha was arrested Thursday in New Delhi and flown to Ranchi to attend the court proceedings Saturday. A Delhi court Friday granted his three days’ transit remand to CBI for taking him to Ranchi.

The income tax (IT) department and the enforcement directorate (ED) raided 69 places of the country including the house of Koda, Vinod Sinha and others, after which an arrest warrant was issued against him.

Sinha floated moré than half dozen companies and invested thousands of crores of rupees in many foreign countries through hawala (money laundering), investigating agencies said.

Sinha used his links with the former chief minister between September 2006 and August 2008 to expand his business and earn money illegally, the agencies said.

Two hawala traders Manoj Punamiya and Arvind Vyas were arrested two months ago. It was alleged that the two sent hundreds of crores of rupees on behalf of Koda and his associates to foreign destinations including Dubai, Thailand and others.

Another accused and close associate of Koda, Sanjay Chaudhary, is still at large.

Koda is in jail since November last year in connection with the scam. The scam’s investigation was handed over to the CBI on the direction of the Jharkhand High Court.