ED raids Delhi Health Minister Satyendar Jain's residence

The Enforcement Directorate ED on June 6 conducted searches at the residence of Delhis Health and Home Minister Satyendar Jain in connection with hawala transactions related to a Kolkatabased companyThe move comes days after the central probe agency arrested Jain on May 30 Jain will be under the custody of ED till June 9Jain was arrested after the ED in April this year attached immovable properties worth Rs 481 crore owned by companies named Akinchan Developers Pvt Ltd Indo Metal Impex Pvt Ltd and others under the Prevention of Money Laundering Act 2002 in connection with disproportionate asset and money laundering case registered Jain his wife Poonam Jain and othersThe ED had registered a criminal case against the AAP leader based on this FIR which was lodged by the CBI in which it had been alleged that Jain could not explain the source of funds received by four companies in which he was a shareholderAlso Read Delhi court sends Satyendar Jain to ED custody till June 9 in moneylaundering caseJain had reportedly floated or bought several shell companies in Delhi He also laundered black money worth Rs 1639 crore through 54 shell companies of three hawala operators of KolkataJain owned a large number of shares in companies named Prayas Indo and Akinchan However after becoming Minister in Kejriwals government all his shares were transferred to his wife in 2015 as per reportsThese companies used to transfer cash payments to their Kolkata counterparts and later under the ruse of buying shares would route back the money to Jain by employing legal means The companies have reportedly laundered money to the tune of Rs 1639 crores from 2010 to 2014 to Satyendra JainAs per government sources when prosecuted by the IT Department Jain surrendered black money in form of cash of Rs 1639 crore under Income Disclosure Scheme IDS 2016 on Benami names of Vaibhav Jain and Ankush JainIn November 2019 the Home Ministry approved the prosecution of Delhi minister Satyendra Jain in cases related to disproportionate assets and money launderingBesides Home and Health Jain holds Power and PWD among other portfolios in the AAPled Delhi governmentThe Delhi High court on Saturday stayed the order of a special court allowing Delhi Health Minister Satyendar Jain to have counsel during the interrogation by the EDEarlier the Central Bureau of Investigation CBI had filed an FIR against Jain in a money laundering case on August 25 2017This story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever