Ranchi, Nov. 1 Income Tax department on Sunday reportedly claimed that it has found evidence of former Jharkhand Chief Minister Madhu Koda's link to "unaccounted" money transactions amounting to Rs 400 crore.

Earlier in the day, Income tax officials continued the raids being conducted at several addresses linked with Koda.

According to sources, documents relating to illegal transaction of Rs.2,000 crore were found during the raids.

Properties of Vinod Sinha and Sanjay Chaudhary- close associates of Koda- were also raided.

"We are going through the documents seized from these people. We will say anything only after analysing the documents," an Income Tax official said.

On October 9, the Enforcement Directorate had charged Koda and his former Cabinet colleagues under the Prevention of Money Laundering Act (PMLA) for allegedly amassing assets worth several hundred crores.

Koda, an independent member of Lok Sabha and a UPA supporter, has been charged with having business interests of diverse kinds - cement, steel, auto, power, agro and tourism.

Estimated at 300-400 crore rupees, his investments are alleged to be spread from Singapore to Thailand to Dubai to Liberia. (ANI)