HYDERABAD: The Enforcement Directorate (ED), on Wednesday, filed a Supplementary Prosecution Complaint against Hyderabad-based jeweller Sanjay Agarwal and three others in a case relating to smuggling 2,717 kgs of gold, valued at more than Rs 650 crore, on charges of money laundering. Sanjay Agarwal, the managing partner of Ghanshyam Gems and Jewels, was arrested by the ED last week for allegedly cheating the State Bank of India, Hyderabad, of Rs 67 crore and has since been in judicial custody.
In November 2021, Sanjay was arrested from Amby Valley City, Lonavala, after a Special Court for PMLA cases at Kolkata issued non-bailable warrant against him. The ED found that Sanjay was involved in smuggling and diversion of duty-free gold, imported through the nominated agencies like MMTC and Diamond India Limited, which was originally meant for export purposes.The ED initiated a probe on the basis of investigations conducted by the Directorate of Revenue Intelligence.