Money laundering: CBI begins probe against AAP minister Satyendar Jain

NEW DELHI: The Central Bureau of Investigation on Tuesday initiated a probe against Delhi’s health minister Satyendar Jain for allegedly turning his black money into white in 2010-12 and then in 2015-16 using his companies and Kolkata-based data entry operators.
CBI sources said that a preliminary enquiry has been registered against the Aam Aadmi Party leader, who is close to Chief Minister Arvind Kejriwal.
Jain is already on radar in two previous CBI probes – one related to appointment of his daughter Soumya Jain as adviser to the Delhi government’s health department and another related to appointment of his officer-on-special duty (OSD) – Dr Nikunj Aggarwal.
CBI sources said that the PE registered on Tuesday pertains to Jain being involved in laundering of Rs 4.63 crore while being a public servant during 2015-16 through three companies – Prayas Info Solutions Private Limited, Akichand Developers Private Limited and Managalyatan Projects Private Limited.
During 2010-12, he allegedly laundered Rs 11.78 crore through these three companies and another company - Indometal Impex pvt limited.
All four companies are alleged to be run by him only, said sources.
CBI sources said that money was given in cash by Jain through his employees and associates to the Kolkata-based entry operators for providing accommodation entries in his favour. The entry operators routed the black money in the accounts of Prayas and other three companies, said sources.
The information received by CBI suggests that shares worth Rs 10 were shown to be purchased for Rs 590 by the entry operators. “The money so recovered back in the form of investment in shares was used by Jain for buying agricultural land worth Rs 27.69 crore in Delhi in the name of his companies,” said CBI.
Officials said that Jain, being an important minister in the Delhi government, used his influence and was trying to push for declaration of areas where he purchased the land as residential areas by the revenue department in order to get financial benefit.
CBI sources added that the matter was referred to the CBI by the Income Tax department under the new Benami Transactions Prohibitions Act.
Since the probe pertains to money laundering, the Enforcement Directorate is also likely to jump in it and seek documents from CBI and the IT department.