New Delhi, Sep 25 The Enforcement Directorate on Friday said it conducted multi-state searches and seized Rs 7.52 lakh in cash in a money laundering probe against a Bengaluru-based jewellery firm that it alleged was “habitually involved” in purchasing stolen gold.
The two-day raids concluded on September 24 at sixteen premises located in Bengaluru (Karnataka), Chennai (Tamil Nadu), Hyderabad (Telangana) and Vishakhapatnam (Andhra Pradesh) in the case against Attica Gold Private Limited, Bengaluru, the agency said in a statement.
The searches were carried out based on allegations that the company was habitually involved in purchase and acquisition of stolen gold articles.
It, its shareholders and directors, were thereby amassing proceeds of crime through closely associated persons, their family members and associates, the agency said.
The ED case under the Prevention of Money Laundering Act (PMLA) stems from multiple police FIRs. The agency stated this information was “further bolstered by various verifiable information gathered by the Directorate regarding money laundering activities/processes conducted by the accused.”
The agency said it searched the premises of the directors, ex-directors, share-holders, head office and branches of he company and some others.
It alleged that the key persons of the company “remained absconding” during the raids and instructed their employees also to remain “unavailable.”
The agency seized Rs 7.52 lakh in cash apart from some foreign currency, gold and silver articles during the searches.
(PTI News)
