Hyderabad, Sep 1 The Enforcement Directorate (ED) has attached assets worth Rs 25.28 crore belonging to Hyderabad-based jeweller Sanjay Agarwal, Radhika Agarwal and Preet Kumar Agarwal in a case related to smuggling of gold originally meant for export.
According to an ED statement issued on Wednesday, the attached assets include residential villas and 54 Kg gold.
The ED had launched a money laundering probe after the Directorate of Revenue Intelligence (DRI), Kolkata, had registered a case under the provisions of Customs Act, 1962, for smuggling of gold and diverting the same to the domestic market.
Search operations by the ED in Hyderabad on March 9 and July 19 this year had resulted in the siezure of incriminating documents that revealed acquisition of properties by the accused persons in the name of their associates, the note stated.
During the investigation by ED, it was revealed that the gold procured duty-free from nominated agencies such as MMTC and the state trading corporation, and meant to be exported, was diverted to the domestic market by Sanjay Agarwal with the active connivance of his relatives and other associates.
Earlier, the ED had arrested Preet Kumar Agarwal in this case for his active role in money laundering activities. A special court (PMLA) in Kolkata has issued non-bailable warrants against the other accused persons, namely Sanjay Agarwal, Radhika Agarwal, Ajay Kumar Agarwal and Avinash Soni.
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