Delhi HC grants bail to two in 2017 money laundering case

The Delhi high court on Tuesday granted bail to Ankush Jain and Vaibhav Jain in a 2017 money laundering case also involving former Delhi minister Satyendra Jain.
“Bail granted, in both cases,” a bench of justice Manoj Kumar Ohri said while pronouncing the verdict.
The Enforcement Directorate (ED) had arrested Satyendra Jain in May 2022 for allegedly misusing his position as minister from February 2015 to May 2017 to acquire disproportionate assets worth ₹1.47 crore and had arrested the duo in June 2022 for allegedly aiding public servants for projecting his movable assets as their own assets.
Also Read:‘Liberty is core value…’: What Delhi court said on Satyendar Jain’s bail
The duo, ED had said had allegedly made declarations under the Income Tax Disclosure Scheme declaring undisclosed income of ₹8.6 crore for saving and shielding the former minister, had prepared back dated documents and were involved in the money laundering proceeds of crime to the tune of ₹5 crore belonging to the former minister.
The court granted bail to the two days after the city court had ordered the release of former minister Satyendra Jain.
On October 18, the city court had granted bail to Jain holding that there was “no likelihood” for the trial in the case to commence, “let alone be completed”.
The court of special judge Vishal Gogne, while ordering Jain’s release on a personal bond of ₹50,000, took into consideration the fact that the Aam Aadmi Party (AAP) leader had been incarcerated for a long time.