The Enforcement Directorate (ED) on Wednesda arrested former Trinamool Congress leader and Rajya Sabha MP KD Singh in a money laundering case. Singh was later produced before a court which sent him to ED's remand till January 16.
"The agency has arrested Singh in connection with money laundering probe under the Prevention of Money Laundering Act (PMLA)," an ED official said.
The Trinamool Congress (TMC) party is led by West Bengal Chief Minister Mamata Banerjee and Singh is stated to be not involved in the party affairs for quite some time.
The central probe agency had carried out searches at the premises of Singh and those linked to him in September, 2019 in connection with two PMLA cases.
In June 2019, the ED had attached assets worth over Rs 239 crore belonging to a firm linked to Singh. It has been alleged that the Ponzi case in which Singh’s firm is being probed is pegged around Rs 1900 crore.
Singh has been the chairman of the Alchemist group and while he resigned from the post in 2012, he is stated to be the Chairman, Emeritus and founder of the business group. The ED is probing him as part of two money laundering cases.