ED files supplementary plaint against Sanjay Agarwal
Hyderabad: The Enforcement Directorate (ED) has filed a supplementary prosecution complaint against Sanjay Agarwal and three others in a case of smuggling of gold to the tune of 2,717 kgs valued at more than Rs 650 crore for the offence committed under Prevention of Money Laundering Act (PMLA)-2002. The court took cognizance of the case. […]
Hyderabad: The Enforcement Directorate (ED) has filed a supplementary prosecution complaint against Sanjay Agarwal and three others in a case of smuggling of gold to the tune of 2,717 kgs valued at more than Rs 650 crore for the offence committed under Prevention of Money Laundering Act (PMLA)-2002. The court took cognizance of the case.
On November 28, 2021, the ED had arrested Agarwal under provisions of PMLA, from Amby Valley City at Lonavala in Pune. He was involved in smuggling and diversion of duty-free gold, imported through the nominated agencies like MMTC and Diamond India Limited. Such imported gold was originally meant for export purposes, according to a press release issued by ED.
The smuggled gold was diverted by Agarwal along with his associates in the domestic territory and sold illegally to generate proceeds of crime which were then laundered and projected as untainted property and used for purchasing immovable properties in the name of others.
The case was initiated on the basis of investigations conducted by the Directorate of Revenue Intelligence (DRI) under Customs Act- 1962.The ED had earlier arrested Preet Kumar Agarwal in the case and filed a prosecution complaint before the Special Court (PMLA), Calcutta.
It ED has also attached gold weighing more than 54 kg along with three immovable properties totaling to more than Rs 25.25 crore at the time of attachment. Bank account balances amounting to more than Rs 56 lakh have also been frozen and taken possession of under the provisions of PMLA, 2002.
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