ED raids firms accused of purchasing stolen gold
The Enforcement Directorate 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.
“ED, Bengaluru conducted searches across 16 premises in Bengaluru, Chennai, Hyderabad & Visakhapatnam under PMLA, 2002 targeting M/s Attica Gold Pvt Ltd, its directors & associates like P.S. Ayub over allegations of habitually purchasing stolen gold and amassing PoC, resulting in the seizure of Rs 7.52 lakh in cash, foreign currency, gold & silver articles,” said ED in a statement on Friday.
The two-day 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, shareholders, head office and branches of the company and some others.
