ED Raids Satyendar Jain and Others, Rs 2.85 Crore and 133 Gold Coins Seized

New Delhi: The Enforcement Directorate (ED) on Tuesday said it conducted raids on the residences of Delhi minister Satyendar Jain and his alleged associates as part of the money laundering probe against him and recovered “unexplained” cash of Rs 2.85 crore and 133 gold coins. 

The ED said those raided on Monday were “either directly or indirectly assisted” the minister in the process of money laundering. The cash and coins were “unexplained” and were kept in a “secret” place, it said in a statement. The economic offences wing, however, did not clarify whose premises the money and gold coins were recovered from.

ED has conducted searches on 6.6.2022 under PMLA,2002 at the premises of Satyendar Kumar Jain and others. Various incriminating documents, digital records, cash amounting to Rs. 2.85 Crore and 133 gold coins weighing 1.80 kg in total from unexplained source have been seized. pic.twitter.com/WYSDPkPrXN

— ED (@dir_ed) June 7, 2022

Satyendar Jain, who was arrested on May 30, will remain in ED custody till June 9. He was arrested under the criminal sections of the Prevention of Money Laundering Act (PMLA).

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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.”

This is a 2017 money laundering case in which it was alleged that the AAP leader and his wife Poonam Jian had amassed disproportionate assets worth Rs 1.47 crore between February 2015 and May 2017 which was more than double their known sources of income. 

The CBI had filed an FIR against Jain in a money laundering case on August 25, 2017. Later the ED officials registered a criminal case against the AAP leader claiming Jain failed to explain the source of funds received by four companies in which he was a shareholder. He had reportedly floated or bought several shell companies like Prayas, Indo and Akinchan in Delhi.