PATNA: The Enforcement Directorate (ED) carried out raids at a number of places in Bihar’s Arrah district on Saturday in reference to a cash laundering probe towards sand dealer Krishna Mohan Singh as a part of an investigation in unlawful sand mining and its sale. The raids are underway at varied locations underneath the provisions of the Prevention of Cash Laundering Act (PMLA).
The company raided Singh’s residence in Arrah amongst different locations in shut coordination with state police primarily based on inputs towards the dealer. Singh’s property in Arrah’s Anand Nagar locality are additionally underneath ED’s radar. The company arrived at Singh’s residence early right this moment to analyze the unaccounted wealth earned by the dealer from the sand enterprise.
The case seems to have a reference to a cash laundering case towards Broadsons Commodities Pvt Ltd. Final month, the ED had provisionally hooked up two immovable properties to the extent of Rs 26.19 crore acquired by Radha Charan Sah, MLC, Bihar Legislative Council underneath the PMLA, 2002. ED initiated an investigation primarily based on 19 First Data Studies (FIRs) registered by Bihar police underneath varied sections of the Indian Penal Code, 1860 and Bihar Mineral (Concession, Prevention of Unlawful Mining, Transportation and Storage) Rule, 2019 towards Broadson Commodities Non-public Restricted and others.
It’s alleged that Broadson Commodities Non-public Restricted has been concerned in unlawful sand mining and promoting of sand with out utilizing the departmental pre-paid transportation e-challan issued by the mining authority, Bihar and has induced enormous income loss to the extent of Rs 161.15 crore to the federal government exchequer.
ED investigation revealed that the unlawful sale of sand and its mining was primarily managed by a syndicate. Radha Charan Sah, being a syndicate member, generated enormous proceeds of crime via Broadsons Commodities Non-public Restricted which was concerned within the unlawful sale of sand. He layered and laundered the proceeds of crime with the help of his son Kanhaiya Prasad utilizing the Hawala community. He used it within the acquisition and growth of a resort in Manali (Himachal Pradesh) via an organization the place his sons are shareholders and to hold out building within the faculty in Ghaziabad (Uttar Pradesh) run by his family-owned belief. He used the facade of a agency and a belief owned by his relations to layer the proceeds of crime.
Earlier within the on the spot case, searches have been carried out on the premises linked with the corporate and syndicate members and money of Rs. 1.49 crore was seized. Additional, Radha Charan Sah, his son Kanhaiya Prasad and the Administrators of Broad Son Commodities Non-public Restricted particularly Mithilesh Kumar Singh, Baban Singh and Surendra Kumar Jindal have been arrested and presently all are in judicial custody. Prosecution Criticism was filed within the on the spot case on November 10 final yr 2023 earlier than the PMLA court docket in Patna.
