CBI searches Jain’s residence in money laundering case

Source: The Hitavada      Date: 26 Aug 2017 10:41:27



THE CBI on Friday searched the official residence of Delhi Health Minister Satyendar Jain after registering a case against him, his wife and four others in connection with money laundering allegations.

The case has been registered against Jain, his wife Poonam, his alleged associates -- Ajeet Prasad Jain, Vaibhav Jain, Sunil Kumar Jain and Ankush Jain. Four companies -- Prayas Info Solutions, Akinchan Developers, Managalyatan Projects and Indo Metal Impex Pvt Limited -- were also named in the FIR.

The registration of FIR followed a preliminary enquiry initiated by the agency in April. “It has been alleged that the Minister while functioning as a public servant has amassed assets disproportionate to his known sources of income to the extent of Rs 1.62 crore (approx) during the period of February 14, 2015 to May 31, 2017. His wife and associates have allegedly abetted the commission of the offence,” a CBI spokesperson said here on Friday. The official said searches were conducted at four places including at residential and the company office premises of the accused based in Delhi. “So far, this has led to recovery of certain incriminating documents,” he said.

The CBI said during enquiry, it was found that the minister and his associates were allegedly involved in money laundering to the tune of Rs 4.63 crore during 2015-16 through shell companies based in Delhi.
“This apart, before becoming public servant, he was allegedly involved in laundering of Rs 11.78 crore during the years 2010-12 through these companies as well as other companies also based in New Delhi,” it said.

The CBI has alleged that the minister had control over these companies either in the form of being one of the directors and by holding one-third of shares of these companies in his name or in the names of his family members/others.

“Although, he had resigned from directorship of the three companies in 2013 before contesting election, however, his investments in these companies were allegedly continued,” the spokesperson said.

The official said it was further alleged that the companies did not have any business and were shell companies and were utilised for parking money in the form of investments in equity shares in connivance with Kolkata-based shell companies.