The CID’s Financial Crime Unit has filed a case against Dilip Kumar Agarwala, owner of Diamond World, on charges of laundering Tk 678 crore through gold and diamond smuggling.
On Tuesday (18 November), CID Special Superintendent of Police (Media) Jasim Uddin Khan said that on 29 September 2024, the CID began reviewing the company’s financial transactions, documents, and bank accounts. The investigation revealed that Diamond World illegally acquired gold and diamonds from the local market—brought into the country through smuggling—and made unlawful profits. With initial evidence supporting these allegations, CID filed a Tk 678 crore 19 lakh 14 thousand 14 taka money laundering case against Dilip Agarwala on 17 November.
CID’s investigation further found that between 2006 and 2024, Diamond World legally imported gold and ornaments worth Tk 38.47 crore, but illegally sourced Tk 678 crore worth of gold and diamonds through local purchases or exchange methods. The company failed to produce valid documentation for the suppliers or sources of these materials, leading investigators to believe the assets were smuggled into the country.
CID stated that after confirming the initial evidence of money laundering, case approval was granted on 16 November. The case was filed at Gulshan Police Station, and CID will conduct the investigation. All necessary documents, bank transactions, and information from relevant individuals will be examined as part of the legal inquiry.