Legal

Rajya Sabha MP KD Singh Arrested For Money Laundering

By
OB Bureau

New Delhi: Former Rajya Sabha MP KD Singh was on Wednesday arrested by the Enforcement Directorate (ED) in connection with a money laundering case.

A criminal case had been filed against Singh and a firm, Alchemist Infra Realty Ltd, linked to him in September 2016 by the ED on the basis of a charge sheet filed against the company, its directors and others by market regulator SEBI, Hindustan Times (HT) reported.

The probe agencies have alleged that the company launched an illegal collective investment scheme, also called a ponzi or chit fund scheme, and mobilised funds of about Rs. 1,916 crore from the public in the years preceding 2015.

The firm allegedly launched the scheme “without the approval” of the SEBI and led to cheating of gullible investors, the report added.

 

OB Bureau

Recent Posts

Odisha CM Directs To Supply 3 Months’ PDS Rice To Beneficiaries In Advance

Bhubaneswar: Odisha Chief Minister on Tuesday issued direction to provide rice of three months' quota…

November 5, 2024

[Watch] Salman Khan Shoots For ‘Sikander’ In Falaknuma Palace Amid Tight Security

Mumbai: In the wake of a fresh death threat by the Lawrence Bishnoi gang, actor…

November 5, 2024

Bachchan Family Upset With Nimrat Kaur, To Take Action Against Source Of Rumour

Mumbai: Rumours about Abhishek Bachchan and Aishwarya Rai’s divorce have been doing the rounds for…

November 5, 2024

Surge In Patients With Respiratory Issues In Delhi Hospitals

New Delhi: Hospitals across Delhi are witnessing a spike in the number of patients with…

November 5, 2024

ISKCON Cancels ‘Untimely’ Rath Yatra In Houston

Bhubaneswar: Facing a strong opposition from the devotees of Lord Jagannath and Puri Gajapati Maharaja…

November 5, 2024

[Watch] Is Abhishek Bachchan’s ‘I Want To Talk’ Similar To Dad Amitabh’s ‘Piku’?

Mumbai: The trailer of the highly-anticipated Abhishek Bachchan starrer ‘I Want to Talk’ was unveiled…

November 5, 2024

One Killed, Two Injured In Mukhyamantri Bus-Bike Collision In Odisha’s Ganjam

Berhampur: One person was killed and two others were injured in a collision between a…

November 5, 2024

Raveena Tandon’s Daughter To Debut With Ajay Devgn’s Nephew

Mumbai: Bollywood actress Raveena Tandon’s beautiful daughter Rasha Thadani is all set to make her…

November 5, 2024