ED asked to clarify role of Jain, others in money laundering

During Tuesday’s hearing, the ED’s counsel claimed that Vaibhav Jain and Ankush Jain knowingly assisted Satyendar Jain in money laundering

The Delhi high court on Tuesday asked the Enforcement Directorate (ED) to clarify the alleged role of jailed Aam Aadmi Party (AAP) minister Satyendar Jain and two other co-accused in a 2017 money laundering case.

Jailed AAP minister Satuendar Jain, who was arrested by ED on May 30, 2022 is currently in judicial custody. (HT Archive)

“What is the role assigned to these three persons? You file it again and give it by today (Tuesday) evening,” justice Dinesh Kumar Sharma told the ED counsel while hearing the accused’s bail applications. The hearing will continue on Wednesday.

Co-accused Vaibhav Jain and Ankush Jain had challenged a trial court’s November 17, 2022 order which dismissed their bail pleas.

During Tuesday’s hearing, the ED’s counsel claimed that Vaibhav and Ankush knowingly assisted Satyendar Jain in money laundering.

The counsel for Vaibhav and Ankush submitted that “no proceeds of crime were generated within the check period, hence the offence of money laundering did not take place”.

The court asked the ED’s counsel to clarify if sdisproportionate assets are created at the time money is given to hawala operators as accommodation entries or when it comes back to the company.

Jain, who was arrested by ED on May 30, 2022 is currently in judicial custody. He was granted bail by a trial court on September 6, 2019, in the case lodged by Central Bureau of Investigation (CBI).

Besides him, the trial court had also denied bail to Vaibhav and Ankush, saying they “knowingly” assisted Jain in concealing the proceeds of crime and were “prima facie guilty” of money laundering.

The ED had arrested the accused in the money laundering case based on a CBI FIR lodged against Satyendar Jain in 2017 under the Prevention of Corruption Act. Satyendar Jain is accused of having laundered money through four companies allegedly linked to him.

In 2022, the trial court also took cognisance of the prosecution complaint (charge sheet) filed by the ED against Jain, his wife and eight others, including the four firms, in connection with the money laundering case.