IT raids unearth hawala transactions worth Rs 560 cr from Koda's properties

New Delhi: The noose around former Jharkhand Chief Minister, Muadhu Koda, tightened further with Income Tax department claiming to have unearthed documents that suggested he had allegedly sent Rs 560 crore abroad through hawala.
IT sources claimed Koda had allegedly amassed over Rs 2,000 crore along his associates through illegal means in the country and abroad for which $110 million dollars (Rs 560 crore) were transferred out through hawala operations.
Searches were conducted at 65 premises of Koda and his associates in Delhi, Kolkata, Mumbai, Lucknow, Nasik, Ranchi, Chaibasa and Jamshedpur in the wake of allegations of that he had amassed illegal wealth during his tenure as the Chief Minister and Minister for mines.
The hawala amount includes more than $100 million sent to Dubai to a person identified as Abdul Bhai, the sources said. Other hawala transactions included sending of 10 million dollar toDubai and two Million USD to Thailand through Arvind Vyas.
The evidence for the IT department claims regarding these transactions surfaced during the search operations at a residence of an alleged Koda associate Lalit Jalan in Mumbai.
The department has also found illegal deposits in Bank accounts and transactions in cash and cheques involving three companies in Mumbai through an hawala operator Manoj Punamia who was a director in these companies.
The minister's personal assistant A.K. Srivastava, the sources said , has also declared about Rs six crore investment in illegal purchase of land.