HYDERABAD: The Directorate of Enforcement (ED), Hyderabad, has filed a prosecution complaint before the Special Court (PMLA), here against MBS Jewellers Pvt Ltd, Sukesh Gupta, Mussadilal Gems and Jewels (India) Pvt Ltd, Anurag Gupta, Karri Ravi Prasad and Valluri Mohan Rao.
The court took cognisance of a complaint on March 1. The ED initiated investigation on the basis of a first information report (FIR) registered by the Central Bureau of Investigation (CBI), Anti-Corruption Bureau (ACB), Hyderabad, against Sukesh Gupta and his companies for defrauding M/s MMTC Limited (a public sector enterprise) to the tune of Rs 504.34 crore in purchase of bullion under buyer’s credit.
On completion of the investigation, CBI filed a chargesheet against Sukesh Gupta and others.
The agency’s investigation revealed that Sukesh Gupta, by using his companies, received bullion from MMTC Limited on buyer’s credit by keeping the forex position open and not paying the additional 5% margin money, leading to a loss of Rs 549.06 crore for MMTC Limited.
The ED investigation revealed that Sukesh Gupta was the mastermind of the entire scam.