The CBI has registered an FIR against Delhi Health Minister Satyendar Jain for alleged money laundering to the tune of over Rs 16 crore in 2010-12 and 2015-16. The agency is probing if Jain illegally moved money through shell companies in these periods and bought agricultural land in Delhi. It is also alleged that Jain tried to convert this land into residential plots using his influence as a minister in the AAP government.
Following the FIR, the CBI conducted raids at four places, including Jain’s residence. In April, the CBI had initiated a preliminary enquiry over the allegations. “Once we were satisfied that the allegations are prima facie true, a regular case has been registered,” a CBI official said.
According to CBI sources, there are allegations that Jain was involved in money laundering to the tune of Rs 4.63 crore through Prayas Info Solutions Pvt Ltd, Akinchan Developers Pvt Ltd and Managalyatan Projects Pvt Ltd while being a public servant during 2015-16. They alleged that in 2010-12, Jain had laundered Rs 11.78 crore through these companies and M/S Indometal Impex Pvt Ltd, where money was given to employees who routed it through shell companies floated by entry operators in Kolkata.
Jain had earlier dismissed the allegations. “The companies under scanner are all linked to Jain, who dissociated from them after joining AAP and fighting elections. However, it was just a technical disassociation. In 2015-16, he moved Rs 4.63 crore through these companies. He had moved Rs 11.78 crore in 2010-12. Money was given by Jain, in cash, through his employees and associates to some Kolkata-based entry operators of shell companies for providing accommodation entries in his favour,” a CBI officer alleged. Entry operators are agents who launder and route black money using normal banking channels without coming under scanner of banking regulators.
The matter was referred by the IT Department to both CBI and ED under the new Benami Transactions Prohibitions Act. It was alleged that the money was routed by entry operators in the form of investment in shares of Prayas Info Solutions Pvt Ltd, Akinchan Developers Pvt Ltd and Managalyatan Projects Pvt Ltd, which were controlled by Jain.
The money was received back in these companies as investment in shares at 60 times the price. The money received back in the form of investment in shares was allegedly used by Jain to purchase agriculture land worth Rs 27.69 crore in Delhi in the name of companies controlled by him. It is alleged that Jain, as a minister in the Delhi government, used his influence in trying to convert the agriculture land into residential land, CBI sources said.
