Friday, April 8, 2011

Madhu Koda Scam 2009 l Rs 4,000 crore

Madhu Koda (born January 6, 1971) is an Indian politician who was Chief Minister of Jharkhand from 2006 to 2008. He was sworn in as the fifth Chief Minister of Jharkhand on September 18, 2006 and remained in office until he resigned on 23 August 2008; he was succeeded by Shibu Soren. He had eight ministers in his cabinet. Koda is the third independent legislator to assume the office of chief minister of an Indian state, including Bishwanath Das in Orissa in 1971 and S. F. Khonglam in Meghalaya in 2002.

Money-laundering and mining scam

On 10th Oct 2009, he was charged with laundering money worth over Rs. 4000 crores.[7] In nationwide raids by the Enforcement Directorate, assets allegedly worth Rs. 4000 crore — almost a fifth of the annual budget of the state he once ruled — were unearthed. Among others, these assets were reported to include hotels and three companies in Mumbai, property in Kolkata, a hotel in Thailand, and a coal mine in Liberia.[8] This alleged scam is said to be the second-largest scam uncovered in India in 2009 and gets his name included in the list of controversial Indian businessman like Hasan Ali Khan and Harshad Mehta. Minister of State for Home Ajay Maken said that the Central Bureau of Investigation (CBI) may be asked to probe this scam, in addition to Enforcement Directorate (ED) and the Income Tax Department.[9] . ED is behind his two close associates Mr.Binod Sinha and Mr.Sanjay Chowdhary. Binod is behind bars and Sanjay has escaped to Dubai.
In the probes, it was found that Maoists received a 30% share of the "Koda plunder".[10] This has led to staunch criticism of Koda from sections of society, including the oppostition Bharatiya Janata Party. Gujarat Chief Minister Narendra Modi stated Koda was part of a corrupt network of Congress Party who stole money from Jharkhand.[11]

Life in jail

Madu Koda is spending his time in jail like any other prisoner of the Birsa Munda Central Jail at Hotwar. He remained confined to his room in the upper division ward. Unlike his fellow arrested corrupt politicians who regularly complain of ill health and high blood pressure, Koda was normal. "His behaviour was normal and he did not try to create a scene like his former cabinet colleagues," said a jail official. Koda wakes up around 6.30 in the morning. He later watches news on local TV channels and also goes through newspapers.[12]
While he was in jail, the BJP (Bharatiya Janata Party) said that they will also expose Goa's Madhu Koda during the forthcoming state legislative assembly session.[13][14] BJP also alleged that state support to illegal mining and corruption in Goa’s mining industry had reached ‘unacceptable levels’. Mining for low grade iron ore and manganese is one of the principal industries in the state, fetching nearly Rs.6,000 crore revenue from exporting the ore to countries like China and Japan. The 100 mines in Goa export nearly 30 million tonnes of iron ore annually

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