A special court on Monday framed charges against Anil Adinath Bastawade accusing him of money laundering to the tune of Rs 4.92 crore individually and Rs 3,500 crore in collusion with former Jharkhand Chief Minister Madhu Koda and his other aides.
The charges were framed by special judge R K Choudhary in Prevention of Money Laundering Act (PMLA) court against Bastawade for allegedly projecting black money of Rs 3,500 crore -- accumulated during the erstwhile Madhu Koda regime between 2006 and 2008 -- as white money in the market along with Koda and others.
Charges were also framed against him for personally accumulating Rs 4,92,16,000 in black money and projecting it as white in the market. Besides investing in companies situated at Jamshedpur and its nearby areas, Bastawade allegedly invested in foreign countries through hawala channels.
Bastawade was brought to the country from Indonesian capital Jakarta in January and was sent to judicial custody by the court. He is the seventh accused arrested after Koda, Binod Sinha, Vikas Sinha, Manoj Punamia, Arvind Vyas and Vijay Joshi in connection with the money laundering and illegal investment cases.
Koda, who is in judicial custody now, was arrested on November 30, 2009 after the Income Tax department and the Enforcement Directorate claimed to have unearthed a money laundering scam and illegal investments worth Rs 2,500 crore following countrywide raids in 70 premises on October 31 the same year. The amount mounted to Rs 4000 crore during the course of investigation.
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