PATNA: The Enforcement Directorate (ED) carried out raids at a number of areas 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 beneath the provisions of the Prevention of Money 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 belongings in Arrah’s Anand Nagar locality are additionally beneath ED’s radar. The company arrived at Singh’s residence early at this time to research 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. Last 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 beneath the PMLA, 2002. ED initiated an investigation primarily based on 19 First Information Reports (FIRs) registered by Bihar police beneath varied sections of the Indian Penal Code, 1860 and Bihar Mineral (Concession, Prevention of Illegal Mining, Transportation and Storage) Rule, 2019 towards Broadson Commodities Private Limited and others.
It is alleged that Broadson Commodities Private Limited 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 precipitated 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 by Broadsons Commodities Private Limited 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 improvement of a resort in Manali (Himachal Pradesh) by 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 prompt case, searches had been carried out on the premises linked with the corporate and syndicate members and money of Rs. 1.49 crore was seized. Further, Radha Charan Sah, his son Kanhaiya Prasad and the Directors of Broad Son Commodities Private Limited particularly Mithilesh Kumar Singh, Baban Singh and Surendra Kumar Jindal had been arrested and presently all are in judicial custody. Prosecution Complaint was filed within the prompt case on November 10 final 12 months 2023 earlier than the PMLA courtroom in Patna.
