ED Attaches Delhi minister Satyendar Jain's Immovable Properties Worth Rs 4.81 Crore in Money Laundering Case

ED Attaches Delhi minister Satyendar Jain's Immovable Properties Worth Rs 4.81 Crore in Money Laundering Case In connection with a money-laundering investigation, the Enforcement Directorate (ED) attached properties worth Rs 4.81 crore belonging to Aam Aadmi Party (AAP) leader and Delhi minister Satyendar Jain on Tuesday. Enforcement Directorate (ED) has provisionally attached immovable properties belonging to M/s Akinchan Developers Pvt. Ltd., M/s Indo Metal Impex Pvt Ltd, M/s Paryas Infosolutions Pvt. Ltd., M/s Manglayatan Projects Pvt. Ltd., M/s J.J. Ideal Estate Pvt. Ltd., Smt. Swati Jain w/o Vaibhav Jain, Smt. Sushila Jain w/o Ajit Prasad Jain, Smt. Indu Jain w/o Sunil Jain under Prevention of Money Laundering Act(PMLA),2002 in a disproportionate assets case. On the basis of FIR No. RC AC1 2017 A 0005 dated 24.08.2017 filed by the Central Bureau of Investigation against Sh. Satyendar Kumar Jain & Others under Section 109 of the Indian Penal Code and Sections 13(2) and 13(1) (e) of the Prevention of Corruption Act, the ED launched a money-laundering investigation. During the period 2015-16, when Sh. Satyendar Kumar Jain was a government employee, the above-mentioned companies beneficially owned and controlled by him received accommodation entries worth Rs.4.81 crore from shell companies in exchange for cash transferred to Kolkata-based entry operators via the Hawala route. These funds were used to acquire land directly or to repay a loan for the purchase of agricultural land in and around Delhi. As a result, as per Section 5 of the PMLA, 2002, immovable properties worth Rs. 4.81 crore in the form of land belonging to the above-mentioned companies/individuals have been provisionally attached. Further investigation, in this case, is under progress.