ED Files Prosecution Complaint Against AAP MLA Jaswant Singh Gajjan Majra

ED Files Prosecution Complaint Against AAP MLA Jaswant Singh Gajjan Majra

VoM News Desk | March 20, 2024 | 01:16 PM IST | Breaking News, Crime | Follow on Google News

ED Files Prosecution Complaint Against AAP MLA Jaswant Singh Gajjan Majra

ED Files Prosecution Complaint Against AAP MLA Jaswant Singh Gajjan Majra

The Enforcement Directorate (ED) has taken action against Jaswant Singh Gajjan Majra, a jailed Aam Aadmi Party (AAP) MLA from Punjab, and six others in connection with a bank fraud case amounting to Rs 40.92 crore. The prosecution complaint (PC) was filed by the agency’s Jalandhar Zonal Office on January 5, naming Jaswant and other accused parties, including three companies, before a special Prevention of Money Laundering (PMLA) Act court in Punjab’s Mohali. The court acknowledged the complaint on March 18.

Arrest and Judicial Custody

Jaswant Singh was arrested by the ED on June 11 last year under the PMLA, 2002, and has since remained in judicial custody of the special PMLA court in Mohali. The investigation was initiated by the ED based on a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI) against Jaswant Singh, Tara Corporation Limited, and others.

Diversion of Funds and Assets

According to the ED, the investigation revealed that the loan amount of Rs 40.92 crore obtained by Tara Corporation Limited was diverted to various bogus firms before being integrated into Tara Health Food Limited (THFL) and Tara Sales Limited. Additionally, funds amounting to Rs 3.12 crore were diverted to Jaswant Singh’s personal accounts, while Rs 33.99 crore were transferred to THFL.

Enforcement Measures

Previously, the ED had attached immovable property worth Rs. 35.10 crore that was used in the commission of the money laundering offense. This action underscores the agency’s efforts to curb financial irregularities and hold accountable those involved in fraudulent activities.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.