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National NEWS

Madhu Koda Arrested in 2,500 Crore Money Laundering Scam

November 30, 2009 Visionmp.com news service

Former Jharkhand chief minister and the main accused in 2,500 crore money laundering scam Madhu Koda was arrested on Monday in Chaibasa, said police.

An official said that Koda was held in Chaibasa, located some 200 kms from Ranchi, and was being moved to the state capital by a police team.

He is accused of laundering thousands of crores of rupees during his tenure as chief minister of the state between 2006 and 2008.

Since Oct 31, the Income Tax department and the Enforcement Directorate (ED) have conducted raids at 69 places in eight Indian cities, including at Koda’s home. Koda, however, insists the raids were politically motivated.