The Criminal Investigation Department (CID) has launched an investigation against Dilip Kumar Agarwala of Diamond World and related individuals on charges of gold and diamond smuggling.
CID officer Azad Rahman from its CID media wing told media that the Financial Crime Unit of the department has been tasked with conducting the investigation.
The CID revealed that Dilip Kumar Agarwala, the managing director of Diamond World, has been accused of money laundering through the illegal import of gold and diamonds from abroad.
Additionally, there are allegations of fraud and forgery against him, where high-quality glass pieces were sold as real diamonds through their showrooms in various districts.
It is also claimed that Dilip Kumar controls gold smuggling syndicates in Dubai and Singapore.
He is reported to have amassed significant illegal assets through three jewelry stores in Kolkata and eleven properties, as well as substantial assets in Malaysia, Dubai, and Canada.
Furthermore, there are allegations of fraudulently investing Tk40 crore to illegally become a bank director.
According to NBR officials, Dilip Agarwala has evaded VAT worth Tk1,620 crore annually. As such, in the last 15 years, Diamond Wald has not paid Tk25,200 crores of VAT.
According to NBR sources, Diamond World has around 30 showrooms across the country, including the capital Dhaka. Dilip Agarwala did not pay any VAT during the 15 years of Awami League’s rule, although diamonds worth Tk4-5 crore were sold from these showrooms.
Recently, Dilip Agarwala was also accused in a case filed over the murder of a student killed during the anti-discrimination movement.
Agarwala is a former president of Bangladesh Jewellers Association (Bajus), and former director and vice president of FBCCI.
He is also Awami League's Central Industry and Commerce Sub-Committee member.
For his contribution to the economy, he was announced as a Commercially Important Person (CIP) for by the then government.
