CBI registers PE against Delhi Minister Satyendra Jain ahead of MCD polls

NEW DELHI: The Central Bureau of Investigation ( CBI) on Tuesday registered a preliminary enquiry against Delhi health minister Satyendra Jain over allegations of money laundering.

It is alleged that Jain was involved in laundering Rs 4.63 crore while he was serving as a public servant during 2015-16, through M/s Prayas Info Solutions Private Limited, M/s Akinchand Developers Private Limited and M/s Mangalyatan Private Limited.

It is further alleged that Jain was involved in money laundering of Rs 11.78 crore since 2010-12 through the aforesaid companies and M/s Indo Metalimpex Private Limited.

It is alleged that Jain paid cash through his employees/associates to entry operators of various shell companies for providing accommodation entries in his favour.

According to CBI sources, it is alleged that entry operators routed the black money in the form of investment in shares through the companies at a premium of at least 60 times of the unit price.

Money so received was allegedly used by Jain for purchasing agricultural land worth Rs 27.69 crore in the name of companies he controlled, CBI sleuths said.

It is alleged that Jain, by using his influence as a state minister, is trying to convert areas where he purchased agricultural land into residential areas.

The matter was referred to the premier investigating agency by the income-tax department against the new Benami Transactions Prohibitions Act.