The Enforcement Directorate has seized 145 kg of gold from a Hyderabad based jeweller on Thursday. The gold worth is estimated to be of Rs 82 crore. The Musaddilal Jewellers is learned to have been made Rs 110 crore transactions during demonetisation. Based on the complained by the Income Tax department, the ED officials investigated the case and found that Musaddilal Jewellers had created fake invoices with the names of 5,200 people on the day of demonetisation.
The ED has conducted the raids at Musaddilal Jewellers at Hyderabad and Vijayawada. A criminal case of money laundering has been filed against the Jewellers promoter Kailash Gupta, proprietor of Ashta Laxmi Gold Neel Sunder Tharad and Chartered accountant Sanjay Sarda.