KOCHI: The Enforcement Directorate (ED) which has launched a probe into the smuggling of gold through the diplomatic baggage to a UAE diplomat in Thiruvananthapuram estimates over Rs 100 crore was sent abroad via hawala channels to buy the yellow metal. The ED will collect information from the Customs about the financiers and buyers who are linked to the case.
According to ED, the accused persons have indulged in money laundering by investing unaccounted money in gold smuggling.“As it is estimated that more than 150kg of gold was smuggled in, the investment in the illegal business will touch more than Rs 100 crore which they sent abroad through hawala channels. These are all unaccounted money. The same is the case with the proceeds of the gold brought illegally. Those who bought the gold are also involved in money laundering,” an officer said.
The ED recently filed a complaint at the Ernakulam Principal Sessions Court, a procedure adopted by the agency to register a case. Currently, the case has been registered against Swapna Suresh, Sandeep Nair and Sarith P S. “We will include other persons who received the money from the business. The Customs has identified 11 buyers and financiers who will be arraigned in our case as well. We are collecting information from the Customs and NIA, based on which our investigation will proceed, “ the officer said.
The properties owned by the accused persons would be attached after the investigation is completed. The ED will initially freeze all bank accounts and properties of the accused. “Since the accused have been involved in smuggling activities for the past several years, all transaction details have to be traced. We will record their arrest and take them into custody in the coming days,” an officer said.