19 hrs ago
Businessman arrested in Chhattisgarh DMF money laundering case
The Enforcement Directorate arrested a businessman named Satpal Singh Chabda.
The arrest is linked to an investigation into alleged misuse of money from the District Mineral Fund.
This fund is meant to help people affected by mining projects.
Investigators say money may have been diverted through Chhattisgarh’s Seed Corporation.
A court sent Chabda to ED custody for five days.
The ED says he helped connect vendors with public officials and district authorities.
It also alleges that he received more than Rs 31 crore in commissions.
Chabda’s alleged crime proceeds were reportedly used to buy property.
The Enforcement Directorate arrested businessman Satpal Singh Chabda in an alleged District Mineral Fund money-laundering case.
A special Prevention of Money Laundering Act court sent Chabda to five days of ED custody.
The ED alleges that large sums were diverted and misappropriated through Chhattisgarh’s Beej Nigam.
The probe followed three Chhattisgarh Police FIRs alleging government-fund siphoning by contractors working with officials and political executives.
The ED says Chabda received more than Rs 31 crore in commissions from a dozen Beej Nigam vendors and used crime proceeds to buy immovable assets.
- Who
- The Enforcement Directorate arrested businessman Satpal Singh Chabda.
- What
- Chabda was arrested in an alleged money-laundering case involving irregularities in the Chhattisgarh District Mineral Fund and alleged fund diversion through Beej Nigam.
- Where
- Chhattisgarh, with Chabda produced before a special Prevention of Money Laundering Act court.
- When
- The arrest took place on Tuesday; the article does not provide a calendar date.
- Why
- The ED alleges that government funds were siphoned off through contractors, vendors and intermediaries, and that Chabda received commissions and invested alleged crime proceeds in property.
Key facts
- Accused
- Satpal Singh Chabda, a local businessman
- Investigating agency
- Enforcement Directorate
- Court action
- A special Prevention of Money Laundering Act court ordered five days of ED custody
- Alleged commission
- More than Rs 31 crore
- Vendors involved
- A dozen vendors of Chhattisgarh Beej Nigam
- Fund under investigation
- District Mineral Fund, financed by miners to support people affected by mining-related projects
- Case origin
- Three FIRs registered by the Chhattisgarh Police
Sources
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