Satyendar Jain: Another setback to Satyendar Jain, court rejects bail plea in money laundering case

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A special CBI court has rejected the bail plea of ​​Delhi Health and Home Minister Satyendar Jain in the money laundering case. Jain’s bail plea, filed on June 9, was heard on Tuesday. During this, Additional Solicitor General SB Raju on behalf of ED and Senior Advocate Hariharan appeared for Satyendra Jain. Special Judge Geetanjali Goel had reserved the judgment after hearing the arguments.

Jain was arrested by the ED on May 30 on charges of money laundering. Earlier in April, the Enforcement Directorate had attached immovable properties worth Rs 4.81 crore of Jain’s family and companies under the Prevention of Money Laundering Act, 2002. This included assets of Akinchan Developers Pvt Ltd, Indo Metal Impex Pvt Ltd and other companies.

Jain is alleged to have launched or bought several shell companies in Delhi. He also laundered black money of Rs 16.39 crore through 54 shell companies of three hawala operators in Kolkata. Jain held a large number of shares in companies named Prayas, Indo and Akinchan. According to reports, after becoming a minister in the Kejriwal government in 2015, all the shares of Jain were transferred to his wife.

After his arrest after the case came to light, when the ED asked Jain questions by showing money laundering papers, he claimed to have lost his memory due to Corona. The ED had told this to the court during the hearing of the bail application itself.

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