Delhi High Court Grants Bail to Ankush and Vaibhav Jain in Money Laundering Case

The Delhi High Court granted bail to Ankush and Vaibhav Jain, co-accused in a money laundering case involving ex-minister Satyendra Jain. They were arrested for allegedly aiding in misrepresenting assets linked to Satyendra Jain's misuse of his ministerial position for personal gain.


Devdiscourse News Desk | Updated: 29-10-2024 11:47 IST | Created: 29-10-2024 11:47 IST
Delhi High Court Grants Bail to Ankush and Vaibhav Jain in Money Laundering Case
Representative Image. Image Credit: ANI
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In a significant development, the Delhi High Court on Tuesday granted bail to Ankush Jain and Vaibhav Jain, both co-accused in the high-profile money laundering case involving former Delhi cabinet minister Satyendra Jain. The decision comes on the heels of recent bail approval for Satyendra Jain by another Delhi court.

Justice Manoj Kumar Ohri's bench announced the order, permitting Ankush and Vaibhav Jain to be released from custody. They were initially arrested by the Enforcement Directorate (ED) on June 30, 2022. These arrests were part of allegations linked to Satyendra Jain's purported misuse of his ministerial role from February 2015 to May 2017, during which he allegedly acquired disproportionate assets totaling Rs 1.47 crore.

The ED asserts that Ankush and Vaibhav Jain, as business affiliates, aided in falsely representing the assets of public servant Satyendra Jain. The case involves an intricate web of money laundering involving four companies connected to Satyendra Jain, allegedly used to veil illicit funds. In 2022, a trial court acknowledged the prosecution complaint presented against Satyendra Jain, his wife, and eight additional parties, including four firms related to the laundering case.

(With inputs from agencies.)

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