Huge setback for Delhi Minister Satyendar Jain as Delhi court denies bail in money-laundering case

Last week, the central agency had seized Rs 2 crore of “unexplained” cash and 133 gold coins, weighing 1.8 kg on conduction similar raids across properties owned by Jain.

Jain was arrested by the ED on May 13 with the agency alleging that he was involved in hawala transactions with a Kolkata-based firm in 2015-16.

A special CBI court on Saturday rejected the bail plea of Delhi Minister Satyendar Jain in connection with a money laundering case. This development comes a day after the Enforcement Directorate (ED) conducted raids on at least ten locations in the Delhi-NCR regions linked to Jain and his associates. The senior AAP leader was arrested on May 30 under the criminal sections of the Prevention of Money Laundering Act (PMLA) after the ED claimed that he was being evasive in his replies at the time of questioning.

Last week, the central agency had seized Rs 2 crore of “unexplained” cash and 133 gold coins, weighing 1.8 kg on conducting similar raids across properties owned by Jain. Last month, the ED attached Rs 4.81 crore worth company and family assets “beneficially owned and controlled” by Jain in the “hawala transactions” case with a Kolkata-based firm, that dates back to 2015-16. “These amounts were utilised for direct purchase of land or for repayment of loan taken for the purchase of agricultural land in and around Delhi,” the ED said.

In 2017, the CBI had lodged an FIR against Jain under charges of disproportionate assets. The CBI, in its chargesheet, stated that Jain’s actual assets surpassed by Rs 1.47 crore, a 217 per cent increase, in comparison to the actual sources of income that was disclosed.

Delhi Chief Minister Arvind Kejriwal has said that Satyendar Jain’s arrest was completely ‘fake’ and called it an act of political vendetta. “It’s a false case against Satyendar Jain. We are hard-core patriots, can get beheaded but can never betray the country…I myself saw his papers, the allegations against him are false. He has been arrested in view of politics,” Kejriwal said at a press conference.

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