ED Seizes Cash, Gold Coins from Satyendra Jain's Aides

The Directorate of Enforcement (ED) seized Rs 2.85 crores and 133 gold coins weighing 1.80 kg from Delhi Health Minister Satyendra Kumar Jain's aides during a day-long raid conducted on Monday.

Various incriminating documents and digital records were also seized from their possession.

The ED said that the total movable assets were seized from an "unexplained source" and were "found to be secreted" in the raided premises.

The assets were seized during a search operation carried out under the Prevention of Money Laundering Act (PMLA), 2002 at the premises of Satyendra Jain, his wife Poonam Jain, and his accomplices and other persons who had either directly or indirectly assisted him in the processes of money laundering.

The people who assisted Satyendra Jain in the money laundering have been identified as Ankush Jain, Vaibhav Jain, Naveen Jain and Siddharth Jain (Directors of Ram Prakash Jewellers Pvt Ltd), G S Matharoo (Chairman of Lala Sher Singh Jivan Vigyan Trust which runs Prudence Group of Schools), Yogesh Kumar Jain (Director in Ram Prakash Jewellers Pvt Ltd), father-in-law of Ankush Jain and Lala Sher Singh Jivan Vigyan Trust, said the ED.

The federal agency's separate teams had carried out the searches at six places in Delhi, including the residence of Jain, and one in Gurugram since morning.

It may be mentioned that on May 30, the ED had arrested Satyendra Jain in an alleged money laundering case. The ED alleged that the minister was involved in hawala transactions with a Kolkata-based firm in 2015-2016. A hawala system involves two parties transacting money with local agents on their behalf without the funds actually passing through formal banking channels.

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