SC grants bail to Madhu Koda on money laundering case

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Madhu Koda
New Delhi, March 1: Supreme Court on Friday, March 1 granted bail to former Chief Minister of Jharkhand Madhu Koda on a money laundering case. Koda got bail in one of the three cases against him.

However, the 42-old-year Independent leader will remain in jail, as he is yet to get bail in two other cases against him.

Koda is currently lodged in a jail in Ranchi. He is in a judicial custody. He was arrested on November 30, 2009 after Income Tax department and the Enforcement Directorate (ED) named him in a nation-wide money laundering and illegal investment scam. The scam is said to be of around Rs 2500 crore.

The investigating agencies raided around 70 places across the country in relation to the case.

An ED official said the amount of the scam, which allegedly took place during the Koda regime between 2006 and 2008, has now gone up to Rs 3,400 in course of investigations.

The ED had earlier attached properties, both immovable and movable, worth Rs 200 crore in this case and had also filed a charge sheet in this regard in a special court in Ranchi in 2012.

OneIndia News

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