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Money laundering case: ED conducts raids at Delhi Minister Satyendar Jain’s residence, other locations

As per the statement, an investigation revealed that one accomplice member of M/s Lala Sher Singh Jivan Vigyan Trust had provided accommodation entries for the transfer of land from a company beneficially owned by Satyendar Kumar Jain to family members of accomplices in order to alienate the property and to frustrate the process of confiscation.

ANI | New Delhi |

The Enforcement Directorate (ED) on Monday conducted searches at Delhi Health Minister Satyendar Jain’s residence and other locations in the national capital in connection with money laundering case filed against the minister.

“Directorate of Enforcement (ED) has conducted a search operation on June 6, 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 and Siddharth Jain (Directors of M/s Ram Prakash Jewellers Pvt Ltd), GS 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,” read an official statement issued by the law enforcement agency on Tuesday.

As per the statement, an investigation revealed that one accomplice member of M/s Lala Sher Singh Jivan Vigyan Trust had provided accommodation entries for the transfer of land from a company beneficially owned by Satyendar Kumar Jain to family members of accomplices in order to alienate the property and to frustrate the process of confiscation.

The statement said that 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 kilograms in total from the unexplained sources were found to be secreted in the said premises and were seized under the Prevention of Money Laundering Act, 2002.

ED had initiated a money-laundering investigation on the basis of an FIR registered by CBI/AC- I, New Delhi on August 24, 2017, under Section 13(2) r/w 13(1)(e) of the Prevention of Corruption Act, 1988 against Satyendar Kumar Jain, Poonam Jain, Ajit Prasad Jain, Sunil Kumar Jain, Vaibhav Jain and Ankush Jain.

The CBI filed a chargesheet on December 3, 2018, against Satyendar Kumar Jain, Poonam Jain, Ajit Prasad Jain, Sunil Kumar Jain, Vaibhav Jain and Ankush Jain wherein it has been stated that Satyendar Kumar Jain while holding the office as a Minister in the Government of Delhi, during the period February 14, 2015, to May 31, 2017, had acquired assets which are disproportionate to his known sources of income.

CBI has accused Satyendar Kumar Jain and his wife Poonam Jain, his business associates namely Ajit Prasad Jain, Sunil Kumar Jain, Ankush Jain and Vaibhav Jain for commission of offences under the Prevention of Corruption Act, 1988.

Earlier, ED had provisionally attached immovable properties worth Rs 4.81 crore belonging to companies beneficially owned and controlled by Satyendar Kumar Jain on March 31, 2022. On May 30, 2022, ED arrested Satyendar Kumar Jain under section 19 of PMLA, 2002 and he is presently in ED custody.
Further investigation, in this case, is under progress.