Jailed Aam Aadmi Party (AAP) minister Satyendar Jain has challenged in the Delhi High Court the trial court’s order denying him bail in a money laundering case lodged by the Enforcement Directorate (ED). Satyendar Jain, in his petition filed in the High Court, has argued that he is not in a position to influence witnesses or tamper with evidence. He says there is no risk in granting relief in the case registered by the ED on September 30, 2017 under the Prevention of Money Laundering Act.
The petition is likely to be heard in the High Court by the end of the week. Jain has challenged the trial court’s November 17 order rejecting his bail plea on the ground that he was prima facie involved in concealment of proceeds of crime. In his petition, Satyendar Jain has claimed that since he is not in possession of any such money, the offense under PMLA is not made out.
It is known that the trial court had rejected Jain’s bail plea on 17 November 2022. Satyendar Jain, in his petition, has claimed that the special judge and the ED drew a wrong interpretation on the basis of only a few entries. This cannot constitute an offense under PMLA. Jain has also said in his petition that he has always cooperated in the investigation. He has appeared for recording of statement seven times. Jain, who was arrested by the ED on May 30, is currently in judicial custody.
The trial court, while denying bail to Satyendar Jain in the money laundering case, had said that prima facie it appeared that he was involved in concealment of proceeds of crime. Cash was infused in three companies in the name of sale of shares. This work was done to show that these three companies are clean. The court said that through this process black money was converted into white. Money equal to one-third of the Rs 4.61 crore earned from the crime was converted into white.
The court had said that Jain in his company in the name of JJ Ideal Estate Pvt Ltd also used the same trick to launder the proceeds of crime of Rs 15 lakh by obtaining house entries from entry operators in Kolkata. The ED case is based on a complaint by the CBI. In this complaint, it was alleged that Satyendar Jain had acquired movable property in the name of various persons from February 14, 2015 to May 31, 2017. He could not give a satisfactory account of the questions asked regarding these properties.
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