29-04-2023
ED attaches movable and immovable properties worth Rs 4.09 crore of Deepak Kumar, director of Naina Jewellers and Yogeshwar Diamonds, in a money laundering case.
The attached properties include immovable property and a bank balance of one proprietorship concern, M/s Naina Jewellers of Deepak Kumar.
The investigation was initiated against M/s Yogeshwar Diamonds and others based on an FIR registered by the Maharashtra Police in 2015, which was later transferred to the Economic Offences Wing (EOW) in Mumbai.
The probe revealed a larger web of shell entities that are involved in sending large amounts of unaccounted funds to foreign shell entities in the guise of forged/fabricated bills of entry in the diamond trading business.
Deepak Kumar was arrested by the ED in February under the Prevention of Money Laundering Act (PMLA) after he did not respond to the agency's summons for the last few years.
The scrutiny of his and his firm's bank accounts in India revealed that he is part of a larger web of shell entities.
The ED has identified the available assets of the main beneficiary, Deepak Kumar, and other proprietors of shell entities and issued the provisional attachment order. A prosecution complaint has also been filed at Mumbai PMLA Special Court.
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