New Delhi: A day after the arrest of I-PAC promoter-director Vinesh Chandel in Delhi, the ED on Wednesday attached assets worth Rs 160 crore, including corporate bonds and alternative investment funds. Shyam Ferro Alloys, controlled by Sanjay Agarwal of the Shyam Group, in a move linked to the investigation into the West Bengal coal mining scam.With this, the total amount attached in the case has exceeded Rs 482 crore.“The crime involves multiple layers of complex financial transactions designed to hide the origin and ownership of illicit funds,” the ED said, adding that it continues to unravel these layers to identify ultimate beneficiaries, trace additional proceeds of crime and zero in on all persons involved in money laundering.The focus of the ED investigation in the coal scam has currently shifted to I-PAC, which in its remand note for Chandel had alleged that he had received significant proceeds of crime from illegal coal mining in the leasehold areas of Eastern Coalfields Limited in West Bengal. However, the agency has not named the political party involved.The Enforcement Directorate said that during searches at the I-PAC premises on April 2, it seized incriminating documents related to fraudulent transactions and election expenses. “The said documents were also found in the office of a political party and were corroborated by the statements recorded by the investigating officer,” it said, pointing to an alleged nexus in using unaccounted money for election expenses.Chandel, founder director of I-PAC since 2015, is an equal shareholder of Prateek Jain and Rishi Raj and a key decision maker in operational and financial matters.“Substantial amounts of money were deposited into I-PAC accounts from various entities without any real business purpose, establishing that the company acted as a conduit,” the agency said.The enforcement agency said the unaccounted cash was sent through hawala channels, recording statements of individuals associated with I-PAC. During questioning, Chandel allegedly made “false and misleading statements”, denied cash transactions and misrepresented the company’s activities.