Indonesia-based hawala dealer Anil Vastawade and chartered accountant S K Naredi have emerged as key in the alleged money laundering case against Madhu Koda with investigators saying they were the “main facilitators” for money transfers and property acquisitions by the former Jharkhand Chief Minister and his associates.

Officials in the Enforcement Directorate (ED) said that Vastawade — earlier based in Dubai — has been on their “radar” for several months. Two hawala dealers named in the case Arvind Vyas (already questioned) and Manoj Punamia (absconding) are known to have made “huge transfers” to Vastawade. Officials said they will soon request authorities in Indonesia to get Vastawade to join the investigation.

Sources said Naredi — questioned on November 2 — was instrumental in the arrest of key Koda associate Vikas Sinha who was questioned by the ED on Monday. During his interrogation, Naredi is said to have admitted that he servd as accountant for Koda and brothers Binod Sinha and Vikas Sinha. And that Rs 11.80 crore was the Sinhas’ “undisclosed income.”

Naredi, sources said, has admitted to making “fake book entries” to the tune of Rs 4.80 crore against companies which existed only on paper. He’s reported to have revealed that the Sinhas spent Rs 7.34 crore of their undisclosed income to buy Shiv Rama Sponge.

The acquisition of the 53 properties owned by the two arrested Cabinet colleagues of Koda — Enos Ekka and Hari Narayan Rai — registered in either their own names or those of their relatives has begun. Officials say they have so far listed eight properties linked to Koda or a member of his immediate family and at least for one of these, payment was made by Binod Sinha by cheque.

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