In April, the ED attached real estate worth 4.81 crore rupees that belonged to the businesses Akinchan Developers Pvt Ltd, Indo Metal Impex Pvt Ltd, and others in accordance with the Prevention of Money Laundering Act, 2002, leading to Satyendar Jain’s detention.
Satyendar Jain, a minister in Delhi, is charged with using front firms situated in Kolkata to launder money. A Delhi court on Monday prolonged the judicial custody of Delhi minister Satyendar Jain until July 20 in a money laundering case. Satyendar Jain has been charged with money laundering.
The court order comes days after the Enforcement Directorate called Poonam Jain, the wife of the Delhi minister, to appear before the investigation team this week as it gathers data from digital devices that were confiscated during the money laundering investigation into the Aam Aadmi Party leader.
On May 30, a 57-year-old Delhi minister was detained for violating the Prevention of Money Laundering Act. At least two sets of raids by the ED have targeted Jain’s family and connections.
At least four businesses connected to Satyendar Jain are said to have served as fronts for his suspected money laundering. On June 13, after finishing his ED custody, he was transferred to judicial custody.
After the initial set of raids on June 6 on Jain’s family and others, the agency claimed to have taken “unexplained” cash worth 2.85 crore and 133 gold pieces.
According to the ED’s allegations, “during the period 2015–16, while Satyendar Kumar Jain was employed by the government, the companies beneficially owned and controlled by him received accommodation entries to the tune of Rs. 4.81 crore from shell (paper) companies against cash transferred to Kolkata-based entry operators through the hawala route.”
The ED had stated that “these sums were used for direct land purchases or for repayment of loans obtained for the purchase of agricultural property in and around Delhi.”
