File photo
Rapid Action Battalion (RAB) has surrounded the Diamond World office in Gulshan, Dhaka.
This operation comes on the same day that the Criminal Investigation Department (CID) Financial Crime Unit began an investigation into allegations of gold and diamond smuggling against Diamond World and its associated individuals.
A director of the Law and Media Division of the RAB Headquarters confirmed the matter on Tuesday night.
He stated that Dilip Kumar Agarwala, the managing director of Diamond World, faces allegations of money laundering, fraud, and forgery under the guise of importing gold and diamonds through smuggling from abroad.
RAB has deployed a team to his office to arrest him at night.
Details of the operation will be disclosed after it concludes.
Earlier, The CID launched an investigation against Dilip Kumar Agarwala of Diamond World and related individuals on charges of gold and diamond smuggling, on Tuesday.
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
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