ED Summons Satyendar Jain’s Wife Poonam Jain In Money Laundering Case

The Directorate of Law Enforcement has summoned the wife of Delhi Minister Satyendra Jain, Poonam Jain, to appear before them on July 14 in connection with a money laundering investigation, reported the press agency ANI.

It comes months after the ED arrested Satyendra Jain from her residence in connection with alleged hawala dealings linked to a Kolkata-based company.

The ED had in April seized real estate worth 4.81 crores owned by companies named Akinchan Developers Pvt. Ltd, Indo Metal Impex Pvt Ltd and others under the Prevention of Money Laundering Act 2002 in connection with the disproportionate money and asset laundering case filed against the Minister, his wife and other people.

On August 25, 2017, the Central Bureau of Investigation (CBI) filed an FIR against Satyendra Jain.

The ED had filed a criminal case against the PAA leader based on this FIR in which it was alleged that Jain could not explain the source of funds received by four companies in which he was a shareholder.

Satyendra Jain is said to have started or purchased several shell companies in Delhi. He also allegedly laundered black money worth 16.39 crore through 54 front companies of three Kolkata hawala operators.

Jain reportedly held a large number of shares in companies named Prayas, Indo and Akinchan. However, after he became a minister in Kejriwal’s government, all his shares were transferred to his wife in 2015, according to reports.

These companies used to transfer cash payments to their counterparts in Kolkata and these companies would later, under the ruse of buying shares, ‘return the money’ to Jain employing legal means. The companies allegedly laundered money up to 16.39 crores from 2010 to 2014 to Satyendra Jain.

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