New Delhi: There is more in the Madu Koda scam, Former Chief Minister of Jharkhand Madhu Koda was arrested yesterday and sent to judicial custody of 14-day, was accused of a money laundering case. As reports from sources now the Income Tax (IT) Department claimed that he is an owner of fake companies.

He has reportedly being involve in carrying out transactions worth thousand of crores in these companies, only Balaji Bullion exists on paper among the fake companies run by Koda.

The company Balaji Bullion was found linked with Balaji Group which is headed by Manoj Punamia, a associate of Madhu Koda.