How Koda's 4000 crores were 'managed'

Ranchi: Even as he told income tax interrogators that he was too sick to meet them, Madhu Koda spent hours meeting hundreds of supporters at his house in Ranchi.

He will now be questioned at home on Tuesday morning. The former chief minister of Jharkhand has been accused of laundering 4000 crores with the help of a few close friends. After raids began at his house and the offices of his associates around the country, Koda's stomach began hurting. So seriously that he spent a week in hospital. Doctors went on record to deny that they were helping him stay in hospital to avoid being arrested. The entire situation was made more suspicious by the fact that Koda's key accomplices, Binod Sinha and Sanjay Chaudhary, are on the run.

Unfortunately for him, Binod's brother, Vikas, has been caught, and now details are emerging on exactly how Koda's 4000 crores were disguised and managed. Vikas Sinha has allegedly confessed on Monday that he laundered 40 crores for Koda by channeling the money into four fake companies. He also bought land for Koda in Jamshedpur and Ranchi. Other details shared by Vikas: that Koda used channels in Dubai, Hong Kong, Singapore, Thailand and Liberia to launder his money; and that Koda traded in the bullions or commodities market in Mumbai, which is largely unorganized, and therefore hard to track.

Also interrogated on Monday, Devendra Mukhiya, a close aide of Koda's who reportedly ran a finance company in Jamshedpur in which he invested Koda's money. "I have met Koda only two or three times. That does not make me an accused," says Mukhiya.