A former Income Tax Officer was convicted of offenses under sections of the Prevention of Corruption Act by the special judge of the CBI court, Jagjit Singh, while his wife was acquitted. After his arrest, the Central Bureau of Investigation (CBI) pursued a case of disproportionate assets (DA) against the former income tax officer, which led to his conviction on Wednesday. Rakesh was found guilty of the charges and will receive his sentence on March 24.
On February 6, 2013, Rakesh Jain was caught accepting a bribe of ₹50,000 from a local businessman in Sector 20, and his mother Kanta Jain was also implicated in the case, but passed away during the trial.
The complaint that led to Rakesh’s arrest was filed by Ashok Arora, a businessman who was served a notice by the income tax department. Rakesh offered to settle the matter in exchange for ₹3.5 lakh, which was later reduced to ₹2.5 lakh, and Arora approached the CBI to set up a trap. Rakesh was caught with the bribe money at his residence in Sector-22.
During the investigation, the CBI found two 1kg gold bricks and documents related to ₹60 lakh worth of shares among other items at Rakesh’s residence. Additionally, a 1kg gold brick, gold coins, and 500 grams of jewelry were also discovered in his lockers at Bank of Baroda and State Bank of Patiala.
Rakesh was sentenced to four years of rigorous imprisonment in the graft case, and a separate inquiry was launched against him after the recovery of the valuables.
A charge sheet was filed in 2015 for the DA case against Rakesh and his wife Suneet Jain, who was also implicated in the case. However, proceedings against Kanta Jain were dropped following her death in 2014.
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