Hyderabad: A day after officials from the Enforcement Directorate (ED) filed a prosecution complaint against Sanjay Agarwal, the managing partner of Ghanshyamdas Gems and Jewels, in a money laundering case, the agency intensified its probe to look into illegal funds that were diverted to foreign countries by him.
He not only travelled overseas on a fake passport but also opened a new store in the name of his employee Avinash Soni and diverted funds obtained through bank loans.
The agency officials will seek to know from where Soni had received money to set up a gold outlet. On getting permission from the court, the ED will prosecute Agarwal.
Cases registered against Sanjay Agarwal
October 19, 201: The CBI, Bank Security and Fraud Cell (BS&FC), Bangalore registered cases against Ghanshyamdas Gems and Jewels and its partners for fraudulently inducing SBI into releasing 250 KG of metal gold on the strength of forged bank guarantees submitted by Sanjay Agarwal, purportedly issued by Punjab National Bank (PNB).
April 6, 2018: DRI officials arrested Agarwal in Kolkata airport while he was trying to smuggle gold to Hyderabad.
February 11, 2022: ED officials arrested Agarwal and attached nine immovable properties, belonging to him, his family members and benamis.
April 13, 2022: ED officials issued a provisional attachment order and filed a prosecution complaint before the court for bank fraud and other cases.
