ED Conducted a Search Operation at Delhi Minister Satyendar Jain’s Premises & Other Location

The Directorate of Enforcement (ED) has conducted a search operation on 06.06.2022 under PMLA, 2002 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.

According to the investigation, one M/s Lala Sher Singh Jivan Vigyan Trust accomplice provided accommodation entries for the transfer of land from a company beneficially owned by Satyendar Kumar Jain to family members of accomplices in order to alienate the property and thwart the confiscation process.

Various incriminating documents and electronic records were seized during the search. Cash worth Rs.2.85 crore and 133 gold coins weighing 1.80 kg were discovered hidden in the premises and seized under the PMLA.

ED had initiated money laundering investigation on the basis of FIR registered by CBI/AC- I, New Delhi on 24.08.2017 under Section 13(2) r/w 13(1)(e) of the PC Act, 1988 against Sh. Satyendar Kumar Jain, Poonam Jain w/o Sh. Satyendar Kumar Jain, Ajit Prasad Jain, Sunil Kumar Jain, Vaibhav Jain s/o Sh. Ajit Prasad Jain and Ankush Jain s/o Sh. Sunil Kumar Jain.

On 03.12.2018, the CBI filed a chargesheet against Sh. Satyendar Kumar Jain, Smt. Poonam Jain, Sh. Ajit Prasad Jain, Sh. Sunil Kumar Jain, Sh. Vaibhav Jain, and Sh. Ankush Jain, alleging that while serving as a Minister in the Government of Delhi, Sh. Satyendar Kumar Jain acquired assets that were disproportionate to his known sources of income from 14.02.2015 to Sh. Satyendar Kumar Jain, Smt. Poonam Jain w/o Sh. Satyendar Kumar Jain, and his business colleagues, Sh. Ajit Prasad Jain, Sh. Sunil Kumar Jain, Sh. Ankush Jain, and Sh. Vaibhav Jain, have been charged by the CBI with violating the Prevention of Corruption Act, 1988.

On 31.03.2022, the ED had temporarily attached immovable properties worth Rs 4.81 crore belonging to firms controlled and beneficially owned by Satyendar Kumar Jain. Satyendar Kumar Jain was detained by the ED on May 30, 2012, under Section 19 of the PMLA, 2002, and is currently in ED prison.

This case is now being investigated further.