Alchemist Infra Realty Limited, headed by K. D. Singh is accused of collecting over ₹1,900 crore from investors through unauthorised means. The Enforcement Directorate (ED) has arrested former Trinamool Congress Rajya Sabha member and industrialist K.D. Singh in connection with a Ponzi scam case allegedly involving Alchemist Infra Realty Limited. The company was accused of collecting over ₹1,900 crore from investors through unauthorised means. “Mr. Singh has been arrested in the Alchemist case,” said a senior ED official. The money laundering probe was initiated on the basis of a prosecution complaint filed by the Securities and Exchange Board of India (SEBI) against the company and its directors in March 2016.