Kanpur Raid: Who Is Piyush Jain? How He Collected Rs 257 Crore In Cash?

On Sunday, a Kanpur-based businessman Piyush Jain was arrested for tax evasion. The Goods and Services Tax (GST) officers carried out a raid for 120 hours, where they found 500 keys for 18 lockers in Kannauj with 250kg silver, 25kg gold, and 257 crore cash. The officers interrogated the businessman for 50 hours. The raid continued for 4 days. The Uttar Pradesh CM Yogi Aditya Nath alleged his link with Samajwadi Party.

Also Read: UP Businessman Piyush Jain Arrested Over ₹ 284 Crore in Raid, Counting Still On

Who Is Piyush Jain?

Piyush Jain started as a perfume businessman. The 52 years old businessman, learned the art of making compounds of perfumes from his father, who is a chemist. He started his business 20-years-ago named Trimurti Fragrance Pvt Limited in Kanpur. He based his perfume manufacturing business in Kanpur and Kannauj. He lived a simple life, rode an old scooter, and had 2 old cars. So, that he didn’t gain any unwanted attention.

What Is Found During The Raid?

The raid has been conducted for 120 hours I.e. 4 days. The officers found out the following things:

  1. Total 257 crore cash has been seized from his properties, from which 10 crore from his factory and residence, 177 crores from Anandnagar house in Kanpur, and 107 crore cash with 250g silver and 25kg gold from his Kannauj house.
  2. He owned 19 cash counting machines in his house
  3. He owns 40 companies, whereas 2 companies in the Middle East
  4. The officers found 300 keys for 18 lockers in the Kannauj house
  5. Around 50 officers are involved in this case

How Did He Collect The Amount?

It is said that more than 200 fake invoices for the transportation of goods and more than a crore have been seized from the transport. He used his transportation for cash without e- waybills and fake invoices.

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What Does He Say?

In interrogation, he said that the cash belongs to his family and brother who denied their involvement in any of these.