A Dhaka court on Tuesday placed Diamond World Managing Director Dilip Kumar Agarwala on one-day remand in a case filed over alleged laundering of Tk 678 crore.
Dhaka Metropolitan Magistrate Md Ariful Islam passed the order when Sub-Inspector Md Ashraful Hasan of the Criminal Investigation Department (CID) of police, also the investigating officer of the case, produced him before the court with a three-day remand prayer.
Earlier on Monday evening, detectives arrested Dilip Agarwala from the Banani area of the capital in the case filed by the CID on November 18 last year for allegedly laundering around Tk678 crore through smuggling gold and diamonds.
The Financial Crime Unit of CID filed the case against Dilip with Gulshan Police Station under the Money Laundering Prevention Act, said Jasim Uddin Khan, special superintendent of police (Media) of CID.
On September 29, 2024, the CID began an investigation against Dilip Agarwala after reviewing Diamond World Limited’s financial transactions, documents and bank accounts.
During the investigation, they found that the company procured smuggled gold and diamonds in the country.
According to the case statement, Dilip Agarwala had long been involved in money laundering and smuggling under the guise of gold and diamond business both at home and abroad as the proprietor of Diamond World and Diamond World Limited.
During the investigation, it was found that the company legally imported gold bars, jewellery, loose diamonds and other items worth Tk38,47,48,011.52 from abroad through letters of credit from September 6, 2006 to February 8, 2024.
During the same period, it also acquired gold and diamonds worth Tk6,78,19,14,014 from the local market through purchase and exchange.
However, the company failed to show valid documents to the CID regarding the source or suppliers of these materials.
Police earlier arrested Dilip Agarwala on September 3, 2024. On October 1, 2025, he was released on bail.
