ED arrests 2 in money laundering case against Satyendar Jain

New Delhi: Initiating fresh action in the money laundering case registered against Delhi minister Satyendar Jain, the ED arrested two businessmen, Vaibhav Jain and Ankush Jain, allegedly linked to him, officials said on Friday. The two have been taken into custody under criminal sections of the Prevention of Money Laundering Act (PMLA).

They were placed under arrest following questioning as officials claimed they were "evasive". The federal probe agency had raided the two, alleged to be "business associates" of Jain, last month as part of this investigation. The agency has conducted at least two rounds of raids against Jain's family and associates after it arrested him in the PMLA case linked to alleged hawala dealings.

It had claimed to have seized "unexplained" cash worth Rs 2.85 crore and 133 gold coins after the first round of raids conducted on June 6 against Jain's family and others. Those raided included Ankush Jain and Vaibhav Jain, Satyendar Jain's wife Poonam 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.