Kolkata, April 12 (IANS): A major portion of the money earned by suspended Trinamool Congress leader Sheikh Shahjahan from land-grabbing at Sandeshkhali in North 24 Parganas district was shown as investments in his brother Sheikh Alamgir's business, the Enforcement Directorate (ED) informed a special PMLA court here on Friday.

After Alamgir and two other close associates of Shahjahan, Shibu Hazra and Didarbux Molla, were produced before the special court on Friday, the ED counsel told the court how the arrested accused channelised the crime proceeds into his brother's business.

According to the ED counsel, the money earned from farmland grabbing was first transferred to the fish exports business registered in the name of Shahjahan’s daughter, and subsequently, a portion of that money amounting to over Rs 2 crore was transferred to the business account of Alamgir and shown as investments.

The ED counsel also claimed that although the amount transferred was shown on paper as investments in the fish exports business, in reality, no exports were done which makes it a clear case of money laundering.

The ED counsel also updated the court about the huge amounts transferred to the bank accounts of Shibu Hazra and Didarbux Molla.

After hearing the arguments, the court remanded Alamgir, Hazra, and Molla to ED custody till April 22.

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