Former Congress legislator Rajesh Jain was arrested on Tuesday for allegedly conspiring to make illegal transactions to exchange demonetised currency after two high-value notes were scrapped last year, Delhi Police said. Officials said his arrest is in connection with an ongoing investigation into a money laundering case registered last year against lawyer Rohit Tandon and several others. Jain and Tandon allegedly conspired to make the transactions by using fake bank accounts for currency worth about Rs 50 crore, officials said. Others arrested in the case are Ashish Kumar, a bank manager, Kamal Jain, Dinesh Bhola, Raj Kumar Goel, RC Sharma, and Yogesh Mittal. It was found during the investigation that the forged documents and shell company accounts were used to carry out huge transactions to earn huge profits, they said.

Source: Hindustan Times November 29, 2017 04:07 UTC