ED seizes Rs 2.85 crore cash, 133 gold coins following raids linked to Satyendar Jain, others
Satyendar Jain was arrested on May 30 for violating the criminal provisions of the Prevention of Money Laundering Act (PMLA), and he is being held in ED custody until June 9.
FollowThe Enforcement Directorate, on Tuesday, claimed that they have seized "unexplained" cash worth Rs 2.85 crore and 133 gold coins during day-long raids on the homes of Delhi health minister Satyendar Jain and his alleged associates as part of a money-laundering investigation.
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As per ED, those raided "either directly or indirectly assisted" the minister in money laundering. In addition, the cash and coins were "unexplained" and kept in a "secret" location, ED said in its statement.
The statement read, "The ED conducted a search operation on 06.06.2022 under PMLA, 2002, at the premises of Satyendar Kumar Jain/Poonam Jain, and his accomplices and other persons who had either directly or indirectly assisted him or participated in the processes of money laundering, namely, Ankush Jain, Vaibhav Jain, Naveen Jain & Siddharth Jain (Directors of M/s Ram Prakash Jewellers Pvt Ltd), Sh. G S Matharoo (Chairman of M/s Lala Sher Singh Jivan Vigyan Trust, which operates the Prudence Group of Schools), Yogesh Kumar Jain (Director of M/s Ram Prakash Jewellers Pvt Ltd.), Ankush Jain's father-in-law and M/s Lala Sher Singh Jivan Vigyan Trust."
"Investigation revealed that one accomplice member of M/s Lala Sher Singh Jivan Vigyan Trust had provided accommodation entries for transfer of land from company beneficially owned by Satyendar Kumar Jain to family members of accomplices to alienate the property and frustrate the confiscation process," the statement continued.
Satyendar Jain (57) was arrested on May 30 for violating the criminal provisions of the Prevention of Money Laundering Act (PMLA), and he is being held in ED custody until June 9.
On Monday, the ED conducted searches at seven different locations in Delhi and surrounding areas, including a jeweller's. A federal agency is investigating Jain under the PMLA for alleged hawala dealings.
The chief minister of Delhi, Arvind Kejriwal, claimed that Prime Minister Narendra Modi was with full force behind the Aam Aadmi Party. "You have all the power, but God is with us," he tweeted.
The central probe agency attached land in Delhi worth 4.81 crores belonging to companies linked to the case, Akinchan Developers, Indo Metal Impex, Paryas Infosolutions, Mangalyatan Projects, and J J Ideal Estate, and Jain's relatives, Swati Jain, Sushila Jain, and Indu Jain, in April of this year.
"During the period 2015-16, when Jain was a public servant, the companies beneficially owned and controlled by him received accommodation entries to the tune of 4.81 crores from shell companies against cash transferred to Kolkata-based entry operators via the hawala route," the agency that investigates financial crimes stated.
The investigation discovered that Rajender Bansal and Jiivendra Mishra controlled Kolkata-based shell companies. They admitted during questioning that their main business was to provide accommodation entries to various beneficiaries, whether in share capital or unsecured loans, at a commission of 15 to 20 paisa per 100, according to the ED.
Also Read:Â ED conducts raids against Delhi Minister Satyendar Jain
Also Read:Â Delhi Health Minister Satyendar Jain arrested in money laundering case
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