ED arrests gold smuggler, attaches assets worth over Rs 25 crore

New Delhi: The Enforcement Directorate (ED) has arrested a person who was allegedly involved in a gold smuggling racket.

ED said that Sanjay Agarwal, the accused, was involved in “smuggling and diversion of duty-free gold, imported through the nominated agencies like MMTC and Diamond India Limited”.

“The smuggled gold was diverted by Sanjay 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,” said ED in a statement.

Agarwal was nabbed from Amby Valley City, Lonavala, Pune while attending a wedding function.

ED has attached gold weighing more than 54 kg along with three immovable properties amounting to more than Rs 25.25 crore. “Bank account balances amounting to more than Rs 56 lacs have also been frozen and taken possession of under the provisions of PMLA, 2002,” added the agency. 

Live TV