Manish Sharma, BJP's candidate from Raniganj in the 2016 West Bengal Assembly elections, was arrested with several lakhs in Rs 2,000 notes, reports said.
Sharma had finished third in the election with 18 percent votes, with the CPI(M) bagging the seat.
Sharma was arrested along with suspected members of the local coal mafia and charged with money laundering, police said.
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(With inputs from Indian Express.)
