HYDERABAD: The sleuths of the Enforcement Directorate (ED) have taken Sukesh Gupta, director of MBS, and Musaddilal Gems for nine-day custody on court’s orders. They shifted him to their office in Basheerbagh for questioning from Chanchalguda jail where he was lodged.
The ED is investigating the financial transactions of MBS and Musaddilal Gems. They have found that Sukesh Gupta had colluded with officers of Metals and Minerals Trading Corporation (MMTC) Hyderabad, causing losses to the corporation.
After taking him into custody, the agency officials are understood to have questioned him about ` 110 crore loan fraud of Srei Infra where he mortgaged two properties and one was sold out to another person.
The agency officials found several property documents with benami names in Andhra Pradesh and Telangana. They suspect that the properties were bought with loan money and funds from the sale of gold.
The ED suspects that huge sums of money may have been routed through shell companies for purchasing lands in both Telugu States. A case has already been registered against him in CCS Hyderabad.
The ED officials also questioned the officers who are alleged to have colluded with Sukesh in MMTC and how they allowed him to purchase huge gold even though he committed offences repeatedly.
Sources said that he had told the ED officials that he was running his business as per the norms. When questioned about an earlier case with MMTC, he said since it was in court, he would face them in court only.