The Criminal Investigation Department (CID) has confiscated assets worth Tk 10 crore from a businessman named Shyam Ghosh, on charges of amassing illegal wealth through gold smuggling.
The Financial Crime Unit of CID carried out the operation, read a press release signed by CID’s Special Superintendent of Police (Media) Jasim Uddin Khan on Wednesday.
A case was earlier filed against Ghosh with the DMP Kotwali Police Station under the Money Laundering Prevention Act 2012, accusing him of acquiring illicit wealth through gold smuggling.
According to CID investigation, Ghosh, who began his career working at his father’s hotel in the city’s Sutrapur area, later worked in a number of jewelry shops.
He was found to have illegally bought and sold smuggled gold without valid documents, concealing the source of his illicit income in violation of money laundering laws.
Investigators revealed that with the proceeds from smuggling, Ghosh purchased several properties in Dhaka. Among these are three shops at Block-C, Level-6 of Jamuna Future Park, where he also operates a restaurant.
He owns a flat at Babuli Star City in Wise Ghat area, and a jointly owns another flat with his brother at Swarnachapa building, Level-6 in Swami Bagh area. He also has joint ownership of a gold shop named Nandan Jewellers at Block-B, Level-5 of Bashundhara City Shopping Complex.
Following an appeal from the investigating officer, the Dhaka Senior Metropolitan Special Judge Court on 25 September ordered the seizure of these properties. The DMP commissioner has been appointed as the receiver to manage the confiscated assets.
CID’s Financial Crime Unit confirmed that the money laundering case against Ghosh remains under investigation.
