SC grants bail to Madhu Koda in money laundering case

The  bail has been granted by the Supreme court to former Jharkhand chief minister Madhu Koda who were granted in a money laundering case. Koda will remain in the jail though, as he is accused in other cases.

Koda, who is at present in judicial custody in a jail in Ranchi, was arrested on November 30, 2009 after the Income Tax department and the ED claimed to have unearthed a Rs 2500 crore money laundering and illegal investment scam following country-wide raids on 70 premises on October 31 the same year.

An ED official said the amount of the scam, which allegedly took place during the Koda regime between 2006 and 2008, has now gone up to Rs 3,400 in course of investigations.

The ED had earlier attached properties, both immovable and movable, worth Rs 200 crore in this case and had also filed a charge sheet in this regard in a special court in Ranchi in 2012.

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