Satyendar Jain laundered crores of rupees with wife, daughters, friends: ED

New Delhi: Arvind Kejriwal’s minister Satyendar Jain, who was arrested by the Enforcement Directorate on charges of money laundering, has allegedly laundered more than Rs 16 crore. Along with his family, two other Jain families are under the scanner of the ED for being part of this wider conspiracy.

The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have accused Satyendar Jain of using his family members, including his two daughters, to mislead the investigating agencies.

According to the investigation report Satyendar Jain’s wife and two daughters received crores of rupees in the guise of business from companies linked to Satyendar Jain.

The report said that Satyendra Kumar Jain, his family and friends had control, stake and stake in four companies in Delhi. Before becoming part of the Delhi government, Jain was one of the directors of three of the four firms. However, his family members continued to hold shares in all four companies.

The probe report said, “These companies have committed money laundering amounting to Rs 16.4 crore during the period 2011-2016, which includes Rs 4.61 crore in 2015-2016 when Jain was a public servant. This amount belongs to Satyendra Kumar Jain, his business associates, Ajit Prasad Jain and Sunil Kumar Jain, their family members and families.”

The agencies have also alleged that Satyendar Jain had active control over the accused companies, even though he technically resigned from the directorship in December 2013 before contesting the Delhi elections.

The report states, “He through his wife Paryas Infosolutions Pvt. Ltd. as a director of the Company as well as through maintaining one-third shareholding in the companies in the name of his wife, family members, relatives and friends. Similarly, the family members Ajit Prasad Jain and Sunil Kumar Jain also held one third stake in the above companies. Satyendar Jain and his business associates have provided the amount in cash to Kolkata based entry operators.

The report said that the entry operators refunded the money through investments in the shares of companies in which Satyendar Jain was a director.

1.5 lakh shares of Mangalayatan Project Pvt Ltd in March 2016. Ltd. was sold by Satyendra Jain’s wife Poonam to a Kolkata-based shell company for Rs 15 lakh. According to the probe agency, it established links between Satyendar Jain and the Kolkata-based shell company.

In the case of other companies, the investigation report alleged that Satyendar Jain controlled the companies and laundered money through his wife Poonam Jain, daughters Saumya and Shreya.

The investigating agencies have also alleged that the AAP leader’s longtime associates and friends – Ajit Prasad Jain and Sunil Kumar Jain – were allegedly laundering money at the behest of the minister.

Ajit Prasad Jain’s son Vibhav and Sunil Kumar Jain’s son Ankush have also recorded their statements before the agencies.

The report also pointed out that Satyendar Jain’s daughters allegedly received huge amounts of money in their bank accounts without participating in any actual business.

(with agency input)

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