Unbridled greed a cause behind corruption: Pranab

Declaring that all aspects into the Koda scam were being looked into, Union finance minister Pranab Mukherjee today said  'unbridled greed' was one of the causes of corruption in Jharkhand.

"The motive of making too much money in too short a period due to unbridled greed is the root cause of corruption," Mukherjee said at a news conference when asked about the root cause of the Koda scam.

Former chief minister Madhu Koda and three of his former cabinet members are under judicial custody in connection with separate cases relating to disproportionate assets case.

During raids on the premises of Koda and others on October 31, the IT department has reportedly found evidence of hawala transactions and illegal investments to the tune of Rs2,000 crore in the backdrop of Enforcement Directorate booking them in the Rs4,000 crore money laundering scam.

"Unless the investigation is over, the motive would be difficult to find out. But surely there were certain lacunae in the system which, of course, will be found out in the investigation," Mukherjee, a senior Congress leader, added.

On whether the names in the diary reportedly found during raids would come under the purview of the probe, Mukherjee said all pieces of information available from whichever sources would be looked into.