The searches targeted Attica Gold Private Ltd., its shareholders, and directors over allegations of habitual purchase of stolen gold articles and the generation of proceeds of crime.
| Photo Credit: File Photo
The Directorate of Enforcement (ED), Bengaluru Zonal Office, has seized ₹7.52 lakh in cash, foreign currency, gold jewellery, and silver articles during searches at 16 premises linked to Attica Gold Private Limited and others across Bengaluru, Chennai, Hyderabad, and Visakhapatnam.
The searches were conducted on Wednesday and Thursday under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002, the ED said in a release on Friday.
The searches targeted the company, its shareholders, and directors over allegations of habitual purchase of stolen gold articles and the generation of proceeds of crime. The premises searched included the residences of directors, former directors, and shareholders, as well as the head office and branches of Attica Gold Private Limited and others.
The ED said its investigation was initiated based on multiple FIRs and charge sheets filed by police in various stations over allegations of habitual purchase, acquisition, and dealing in stolen gold articles. The information from the FIRs was supplemented by information gathered by the agency regarding alleged money laundering activities, it added.
According to the ED, the key persons in the case, including P.S. Ayub alias Bommanahalli Babu, Obedulla A., Mohammed Salman A., and Arbin Taj, did not cooperate with the search proceedings and remained absconding. The agency also alleged that employees at the business premises were instructed by the key persons to remain unavailable during the searches.
Published – September 25, 2026 08:22 pm IST
