Ashok Jain bail petition rejected

A city court rejected the bail petition of Ashok Jain, an associate of Helmuth Schuster who is alleged to have siphoned off the money of Andhra Pradesh government, and allowed CBI to take him into custody for 10 days.

Jain was booked under sections 420 and 409 of IPC and criminal breach of trust. The CBI, which initiated probe into the payment and subsequent diversion of Rs 11.7 crore deposited with Vasishta Wahan account, has sought Jain's custody for further investigation.