ED raids premises linked to TMC’s KD Singh in Delhi

NEW DELHI: The Enforcement Directorate (ED) on Thursday raided the premises linked to Trinamool Congress’s (TMC) Rajya Sabha MP KD Singh in Delhi and Chandigarh in connection with a money laundering probe, two officials familiar with the developments said.

The raids come against the backdrop of TMC chief and West Bengal chief minister Mamata Banerjee meeting Prime Minister Narendra Modi and home minister Amit Shah to discuss what TMC leaders called “administrational issues”.

Speaking on condition of anonymity, ED officials said the raids carried out as part of their investigation in a Ponzi scheme and fraud in a housing scheme.

Earlier in January, ED had attached assets worth over ~239 crore belonging of a firm linked to Singh.

“Investigation revealed that the proceeds of crime generated by Alchemist Infra Realty Ltd [a firm linked to Singh] were laundered through the web of companies. Investigations also revealed that the funds mobilised by the firm from various investors were never utilised for the purpose for which they were collected and the same were transferred to bank accounts of other group companies which were mainly paper companies from where they were systematically siphoned off by the accused and used to purchase properties at various locations in the country. All such assets in Punjab, Haryana, Shimla and bank accounts... worth ~239.39 crore identified during the course of investigations have been provisionally attached,” the ED said in a statement issued in January. HTC