Court denies bail to Satyendar Jain in money laundering case
The Delhi High Court on Thursday dismissed the bail plea of Aam Aadmi Party (AAP) leader and former Delhi cabinet minister Satyendar Jain in a money laundering case, reported ANI. The court had reserved its order on Jain's bail plea on March 21 after hearing the arguments of both sides. The court also dismissed the bail pleas of co-accused Vaibhav Jain and Ankush Jain.
Why does this story matter?
The Enforcement Directorate (ED) arrested Jain on May 30, 2022, amid a political feud between the Bharatiya Janata Party (BJP) and the AAP government. Notably, the ED case against Jain is based on the Central Bureau of Investigation's (CBI) 2017 FIR. The AAP has accused the BJP-led Central government of misusing federal agencies and framing Jain in a "false" case to settle political scores.
What is the case against Jain?
The ED had arrested the AAP leader in connection with a case related to hawala transactions involving a Kolkata-based company. According to the financial probe agency's investigation into the case, during 2015-16, when Jain was a public servant, firms allegedly owned and controlled by him illegally received Rs. 4.81 crore from shell companies via the hawala network.
Potential of tampering with evidence: Court
"Satyendar Jain is an influential person and has the potential of tampering with evidence. The petitioner, at this stage, can't be held to clear the twin conditions of the Prevention of Money Laundering Act (PMLA)," Justice Dinesh Kumar Sharma observed. The court said there was no illegality or infirmity in the trial court's order from November of last year, which denied Jain's bail plea.
Jain concealed the proceeds of the crime: Trial court
The trial court observed that, prima facie, Jain was "actually involved" in concealing the proceeds received by the companies linked to him. It said that he gave cash to Kolkata-based entry operators for it to be sent to the three companies linked to him. This way, the money would be reflected as legitimate income of the companies.
