HYDERABAD: The Enforcement Directorate (ED) on Monday filed its closing chargesheet from 25 jewellers and chartered accountants (CAs) at Hyderabad in connection with alleged laundering of Rs 111 crore following 2016 demonetisation and turning it to golden and producing a gain of Rs 28 crore.
The ED called 41 detained, such as promoters of both Musaddilal Gems and Jewels Private Limited and their loved ones, at the chargesheet from the scam worth Rs 139 crore.
The ED connected Rs 130 crore, such as jewelry of Rs 86 crore, in February this year under the Prevention of Money Laundering Act (PMLA).
Right after the statement of demonetisation on November 8, 2016, Musaddilal Gems and Jewels, Vaishnavi Bullion Pvt Ltd and also Musaddilal Jewellers Private Ltd deposited large worth monies of Rs 500 and Rs 1,000 to the tune of Rs 111 crore within their bank account.
The accused elevated bogus money receipts and purchase invoices banning alleged gold jewelry purchases by producing 5,911 false clients between 8 pm and 12 am at night that the demonetisation has been declared.
The ED alleged the Musaddilal Jewellers MD Kailash Chand Gupta and his mum fabricated statements under Rs two lakh by obeying the recommendations of CAs to prevent the compulsory requirement of KYC or even PAN of consumers.
“The accused accumulated black currency from different jewellers and buddies and have exactly the same deposited in their bank account to convert it to gold by accepting charge,” it alleged.
The directorate farther explained the accused had intentionally contributed their black cash in demonetised money for gold.
The ED stated relatives of Kailash Gupta, Neel Sunder Tharad, owner Ashta Lakshmi Gold, along with Pavan Agarwal of all Sri Balaji Gold donated black cash to the tune of 88 crore and made additional gain.
The ED termed L Bajrang Pershad Jewellers, Vijay Jewellers, M Rajender Kumar Jewellers along with Pearl Dealers, Vijay Vithaldas Jewellers, Inderlal Balmukund Jewellers, Murari Exports, Preethi Jewellers, Sri Yash Jewellers, Navdurga Gems and Jewellers, Vonamala Jagadeeshwaraiah, Surajbhan Jewellers, Sree Kalpataru Jewellers Private Ltd, Tibarumal Ramnivas Gems Jewels along with Pearls and Sanjay as accused that led black cash for transformation.
CAs Sanjay Sharda, Ashish Jain and Manish Gupta of Musaddilal, Tarun Jain, Praveen Agarwal, Tej Prakash Agarwal of Praveen Satyaranayann Stone and trademarks and Prem Kumar Sachdev, Nityesh Sachdev, Aditya Saraogi along with Aawani Saraogi of all Picture Decor were named as accused.
The ED reasoned the money laundering investigation against Musaddilal Gems and Jewels according to an FIR filed by fundamental offense