Four sent to CBI remand in connection with PNB cheating case

Jain allegedly provided cash through his employees and associates to the entry operators and shell companies who provided accommodation entries and routed back the money in Jain's companies.

CBI has ordered an inquiry against Aam Aadmi Party leader and Health Minister of State, Satyendra Jain in money laundering case on April 11.

The agency registered the case on Monday on the basis of plethora of evidence it has gathered against the minister, the sources said.

The CBI alleged that while holding public office, Mr. Jain laundered about ₹4.63 crore in 2015-16 through three companies.

Jain had dismissed the allegations after Enforcement Directorate action last month attaching properties linked to him in the matter. Just ahead of the MCD elections is Delhi, this has come as a shocker for the Chief Minister Arvind Kejriwal and camp.

The money was received back in these companies as investment in shares at 60 times the price.

The matter was referred by Income Tax Department to the CBI under the new Benami Transactions Prohibitions Act. "All this is done to stop the policies started by the Delhi government". Such allegations are politically motivated.

It is alleged that these companies did not have any business activity during the period of funding so as to attract such huge funding in the form of share capital and share premium.

The source further revealed that Jain used these black money worth Rs 27.69 crores to buy agricultural lands. "I am not afraid of any probe about my income details, nor am I scared of any political vendetta", Jain had said.

  • Zachary Reyes