New Delhi (The Hawk): The Enforcement Directorate (ED) reported on Wednesday that it had searched the locations of four well-known jewellers in Kerala and had taken possession of 5.058 kg of gold, valued at Rs 2.51 crore.
The investigation agency searched Malabar Jewellery (Malappuram), Fine Gold (Malappuram), Atlas Gold Super Markets Pvt Ltd (Kozhikode), and Aboobacker Pazhedath's residence (Malappuram).
A hidden chamber used to store gold jewellery was discovered during searches, leading to the recovery and seizure of 5.058 kg of gold jewellery valued Rs 2.51 crore and Rs 3.79 lakh in cash.
In response to the seizure of 30.245 kg of smuggled gold by Customs (Preventive) at Thiruvananthapuram International Airport, which was disguised as diplomatic luggage of UAE Consulate, Thiruvananthapuram, the ED filed the case on the basis of a FIR registered by National Investigation Agency (NIA), Kochi, under sections 16, 17 and 18 of Unlawful Activities (Prevention) Act.
Sandeep Nair, Swapna Prabha Suresh, and Sarith P.S., the three accused, were detained by the economic intelligence agency in 2020.
Additionally, a prosecution complaint was made against the three in 2020.
A deeper look into the matter showed that M. Sivasankar, IAS, the former Principal Secretary to the Chief Minister of Kerala, had also helped the accused smuggle gold and pass off proceeds of crime as clean assets. As a result, Sivasankar was also detained by the ED on and charged as an additional accused.
In 2020, a Supplementary Prosecution Complaint was submitted against the defendants, including Sivasankar.
During the ongoing inquiry into the discovery of illegal gold by Customs, it was discovered that Sarith had sent his cousin Akhil S. Rs 14.98 lakh to retain in safe custody.
Aboobaker Pazhedath of Malappuram is a member of the Gold Smuggling Syndicate, which is supported by Sivasankar, IAS, and is commanded by Sarith, Swapna, and Nair, according to a subsequent money laundering probe. One of the beneficiaries was Pazhedath.
The Promoter of Malabar Jewellery & Fine Gold Jewellery, both of which are situated in Malappuram, Kerala, and one of the shareholders of Atlas Gold Super Markets Pvt. Ltd., Kozhikode, Kerala, Pazhedath, was the owner of 3 kg of the smuggled gold that the Customs recovered. Aboobacker Pazedath stated during his PMLA test that the 3 kg of gold that Customs had recovered was his, and he also acknowledged that he had previously smuggled 6 kg of gold through the diplomatic luggage of the UAE Consulate.
"The money for purchasing the aforementioned illegally obtained gold was raised through his companies, Malabar Jewellery, Fine Gold, and Atlas Gold Super Markets Pvt. Ltd. Discreet investigations also indicated that Pazhedath continued to engage in linked activities to gold smuggling through his aforementioned enterprises, according to the ED.
Investigations into the situation are still ongoing.
(Inputs from Agencies)