KD Sigh was elected to Rajya Sabha on a Trinamool Congress ticket in April 2014New Delhi: Former Rajya Sabha MP and businessman KD Singh has been arrested in connection with an alleged money laundering case, sources said. The Enforcement Directorate, which made the arrest, had searched his premises in 2019 in connection with the investigations into the Alchemist Group case.Mr Singh, the founder of the Alchemist group, was its chairman till 2012. Currently he is its Chairman Emeritus. The agency is probing him as part of two money laundering cases linked to   an alleged Rs 1,900 crore Ponzi scam.In January 2019, the agency attached the firm’s assets valued at over Rs 239 crore. The agency has alleged that the company launched an illegal collective investment scheme and collected around Rs 1,916 crore from the public till 2015. The investigation in the case started in 2016.KD Sigh was elected to Rajya Sabha on a Trinamool Congress ticket in April 2014 but got sidelined in the party after the scam surfaced. His term got over in April last year.Senior Trinamool leader Sougata Roy said the party has no connection with KD Singh now.”It is true that KD Singh ran a chit find for Alchemist. It is true that at one time he was a member of the Rajya Sabha from the Trinamool. But the party has had no connection with KD Singh for the last two years,” Mr Roy said.”I hope the Enforcement Directorate has acted according to the law — that is, the Prevention of Money Laundering Act. We should ensure that the CBI and the ED are not misused. But at the same time they have their rights. They have their powers according to the law,” he added.Asked if there was a misuse of powers by the two agencies, Mr Roy said, “I am not apprehensive but I know the BJP is not above using the CBI and the ED for political purposes. We are not apprehensive, we are political people and we will face whatever comes to us”.