Chandigarh: Punjab Aam Aadmi Party (AAP) MLA Jaswant Singh Gajjan Majra was detained by the Enforcement Directorate (ED) on Monday in connection with an alleged bank fraud case. Sources reported that a team of ED agents apprehended Jaswant Singh in Malerkotla and transported him to Jalandhar for questioning. The MLA from Amargah was detained during a public meeting earlier in the day. In the past year, the Central Bureau of Investigation (CBI) had conducted raids at the residence and other properties of the AAP MLA.
Investigation into Bank Fraud Case
The CBI raids were part of an investigation into a bank fraud case involving approximately Rs 41 crore. The latest development has contributed to the ongoing political turmoil in Punjab, where the BJP has been protesting against the Kejriwal government, accusing it of abusing its power.
During the CBI raid, authorities discovered approximately Rs 16.57 lakh in cash, 88 foreign currency notes, various property documents, numerous bank accounts, and other suspicious documents. Allegations suggest that the loans acquired by the accused were not used for their intended purposes.
A case was filed against a private company located in Gaunspura, as well as former directors, a private company's guarantor, another private firm, and unidentified public servants/private individuals.
It was claimed that the private company, engaged in trading D.O.S.E Rice Bran, D.O.S.E Mustard Cake, Binola Cake, maize, barley, and other food items, had obtained loans from the bank over four intervals between 2011 and 2014.
Allegations include that the firm and its directors concealed their non-moving stock, manipulated the loans with malicious intent, rendering them inaccessible for bank inspection and recovery. This resulted in a significant loss of around Rs 40.92 crore to the bank.
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