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ED files prosecution complaint against jailed Punjab AAP MLA in ₹40.92-crore bank fraud
The Enforcement Directorate had arrested Jaswant Singh Gajjanmajra on June 11 last year under the special Prevention of Money Laundering Act. He is still in judicial custody of the special PMLA court in Mohali.
The Enforcement Directorate (ED) has filed a prosecution complaint against jailed Aam Aadmi Party (AAP) MLA from Punjab Jaswant Singh Gajjanmajra and six others in connection with a bank fraud case of ₹40.92 crore, the agency said on Wednesday.
The agency’s Jalandhar zonal office filed the prosecution complaint (PC) against Jaswant, a former director of Tara Corporation Limited and Tara Health Food Limited, and six other accused, including three companies, in the case of Tara Corporation Limited and others on January 5 before a special Prevention of Money Laundering (PMLA) Act court in Mohali.
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The court took cognizance of the prosecution complaint on March 18.
The ED had arrested Amargarh MLA Jaswant Singh on June 11 last year under the PMLA. He is still in judicial custody of the special PMLA court in Mohali.
The ED initiated investigation on the basis of the first information report (FIR) registered by the Central Bureau of Investigation (CBI) against Jaswant Singh, Tara Corporation Limited and others.
“ED investigation revealed that the loan amount of ₹40.92 crore availed by Tara Corporation Limited through criminal conspiracy and cheating had been diverted to bogus firms from Tara Corporation Limited and thereafter integrated into Tara Health Food Limited (THFL) and Tara Sales Limited,” the ED statement said.
The federal agency said amounts to the extent of ₹3.12 crore had been diverted to the personal accounts of Jaswant Singh besides ₹33.99 crore to THFL. The ED had attached immovable property worth ₹35.1 crore used in the commission of offence of money laundering.
