Satyendar Jain, others raided by ED, agency says Rs 2.85 crore and 133 gold coins seized

Jain is in ED custody till June 9. The ED statement did not say whose premises the money and gold coins were recovered from.

The ED said in a statement that search operation was conducted on Monday 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 runs Prudence Group of Schools), Yogesh Kumar Jain (Director in M/s Ram Prakash Jewellers Pvt Ltd.), father-in-law of Ankush Jain and M/s Lala Sher Singh Jivan Vigyan Trust”.

In 2017, the CBI had registered a case against Satyendar Jain and others on the allegations that the companies – Paryas Infosolution, Indo Metalimpex, Akinchan Developers and Mangalayatan Projects – linked to him and his family members allegedly laundered money to the tune of Rs 11.78 crore during 2010-2012 and Rs 4.63 crores during 2015-16, when he had become a minister in Delhi government. According to the CBI, Jain through his associates allegedly gave money in cash to Kolkata-based entry operators of different shell companies for accommodation entries. These entry operators allegedly then re-routed the money in the form of investment through shares in Jain-linked companies after “layering them through shell companies, the agency said.

The ED case is based on the CBI case and was registered soon after the CBI booked Jain and others under the Prevention of Corruption Act. The ED has recorded statements of the Kolkata-based shell company operators allegedly stating that they had met in the office of a CA with Jain regarding providing accommodation entries in his companies. Jain is accused of signing conveyance deeds for purchase of agriculture lands by Prayas Infosolutions in 2011 and 2012 – the land was allegedly later transferred to family members of associates who denied knowledge about the transfer, as per ED.

In its statement on Tuesday, the ED said, “During the search, various incriminating documents and digital records were seized. The cash amounting to Rs 2.85 crore and 133 gold coins weighing 1.80 kg in total from unexplained source were found to be secreted in the said premises and were seized under PMLA.”

Meanwhile, Delhi Chief Minister Arvind Kejriwal, who has stood behind Jain since the case was filed, tweeted on Tuesday afternoon: “The Prime Minister is harassing the Aam Aadmi Party – especially the governments of Delhi and Punjab. Lies upon lies are being propagated. You have all the agencies under your control, but God is with us.”