A Dhaka court on Tuesday placed Diamond World Managing Director Dilip Kumar Agarwala on one‑day remand in a money‑laundering case involving Tk 678 crore.
Dhaka Metropolitan Magistrate Md Ariful Islam ordered the remand after Sub‑Inspector Md Ashraful Hasan of the Criminal Investigation Department presented the accused, who had been produced before the court with a three‑day remand prayer.
Detectives had arrested Agarwala on Monday evening in the Banani area of the capital, acting on a case filed by the CID on 18 November last year alleging the laundering of approximately Tk 678 crore through smuggled gold and diamonds.
The Financial Crime Unit of the CID filed the case with Gulshan Police Station under the Money Laundering Prevention Act, according to special superintendent of police (Media) Jasim Uddin Khan. The investigation, launched on 29 September 2024, uncovered that Diamond World imported smuggled gold and diamonds domestically.
Court documents show the company legally imported gold bars, jewellery, and loose diamonds worth Tk 38,47,48,011.52 from abroad via letters of credit between September 2006 and February 2024, while also acquiring gold and diamonds worth Tk 6,78,19,14,014 from the local market. However, it failed to provide valid documentation to the CID regarding the sources or suppliers of these materials.
Agarwala was previously arrested on 3 September 2024 and released on bail on 1 October 2025. The current remand seeks further investigation into the alleged financial crimes tied to the company’s gold‑diamond trade operations.
Why it matters
The case highlights ongoing challenges in Bangladesh’s fight against large‑scale financial crime and illicit gold‑diamond smuggling.