Rajesh Agarwal, a chartered accountant allegedly involved in a money laundering racket amounting to Rs 8,000 crore, was arrested by the Enforcement Directorate (ED) in Delhi on Tuesday. He is allegedly connected to several influential people, including Rashtriya Janata Dal chief Lalu Prasad Yadav’s daughter Misa Bharti.
Agarwal was arrested under provisions of Prevention of Money Laundering Act, after officials suspected he was involved in helping several high-profile clients launder their funds by giving them accommodation entries, an official told PTI. Accommodation entries are a means account for black money by passing it off as loans or share capital.
Agarwal, with the help of two brothers SK Jain and VK Jain, allegedly converted black money through several dubious transactions. The Jain brothers were arrested by the ED on March 20, reported IANS. He will be produced in a Delhi Court later on Tuesday.
The official further added that Agarwal’s arrest is connected to a probe by the Income Tax department into dubious land deals worth Rs 1,000-crore linked to Yadav’s family.
On May 16, the Income Tax department had raided 22 places in and around Delhi in connection with alleged benami property deals involving Yadav and his family – Bihar Deputy Chief Minister Tejashwi Yadav, Health Minister Tej Pratap Yadav and Bharti, who is also a Rajya Sabha MP.
“People and businessmen connected to the land deal involving Lalu Prasad and his family are being searched. There are allegations of benami deals worth about Rs 1,000 crore and subsequent tax evasion,” a senior official had said.