Satyendar Jain's aides raided by ED, Rs. 2cr cash found
What's the story
The Enforcement Directorate (ED) has recovered over Rs. 2cr in cash and jewelry from Satyendar Jain's aides in the alleged corruption case against him. The raids took place on Monday at the residences of Jain and his associates. Reportedly, Rs. 2.23cr was recovered from Ram Prakash Jeweller, and Rs. 41.5L—including Rs. 20L in cash and 133 gold coins—was recovered from one Vaibhav Jain.
Context
Why does this story matter?
The latest development comes as the Bharatiya Janata Party (BJP) and the Aam Aadmi Party (AAP) are embroiled in a political feud over the Delhi minister's arrest. Monday's raids were reportedly a "follow-up" in the money laundering case against Jain. On May 30, the 57-year-old AAP leader was arrested under the criminal provisions of the Prevention of Money Laundering Act (PMLA).
Context
Jain is in ED's custody
Delhi minister Satyendar Jain, arrested on charges of money laundering, is in Enforcement Directorate's (ED) custody till Thursday (June 9). Jain and his family are alleged to have formed four fake companies to launder Rs. 11.78 crore in 2011-12 and Rs. 4.63 crore in 2015-16. The AAP has claimed that a fake case has been running against Jain for eight years.
Fact
Jain bought several shell companies
Moreover, Jain had allegedly purchased or floated several shell companies in Delhi and also laundered black money worth Rs. 16.39 crore via 54 shell companies of three Kolkata-based hawala operators. Akinchan Developers Private Limited, Indo Metal Impex Private Limited, Paryas Infosolutions Private Limited, Manglayatan Projects Private Limited, and JJ Ideal Estate Private Limited are among some companies in which Jain allegedly owned shares.
Report
ED attached Jain, family's assets worth Rs. 4.81cr: Report
Earlier in April, the ED had provisionally attached assets worth Rs. 4.81 crore belonging to Jain and his family members, reports said. According to the financial probe agency's investigation into the case, companies in which the AAP leader was allegedly involved illegally received Rs. 4.81 crore through the hawala network from shell companies during 2015-16.
ED
Here's what ED said earlier about case
In April, the ED stated, "During 2015-16...companies beneficially owned and controlled by [Jain] received accommodation entries to the tune of Rs. 4.81 crore from shell companies against cash transferred to Kolkata-based entry operators through hawala route." "These amounts were utilized for direct purchase of land or for the repayment of loan taken for purchase of agricultural land in and around Delhi (sic)," it added.
CM
Arrest all AAP leaders: Delhi CM to PM
During a speech last week, Delhi Chief Minister Arvind Kejriwal urged Prime Minister Narendra Modi to "arrest all AAP leaders." He also claimed that Delhi's Deputy CM Manish Sisodia is their next target and will most likely be arrested, too. He further alleged by detaining Jain and Sisodia, the Centre is attempting to halt the wonderful work being done in education and health fields.
Quote
Kejriwal terms case against Jain 'completely fraud'
On the other hand, Delhi CM and AAP chief Kejriwal had called the case against Jain "completely fraud." "I have personally studied this case, it is completely fraud. We neither tolerate corruption nor we do corruption. We have a very honest government. He has been targeted because of political reasons," Kejriwal said. However, the CM also said he had complete faith in the judiciary.