ED searches 16 premises linked to Attica Gold in stolen gold, money laundering case

Bengaluru: The Enforcement Directorate (ED) has conducted searches at 16 premises linked to Attica Gold Pvt Limited, its directors, shareholders and associates across Bengaluru, Chennai, Hyderabad and Visakhapatnam in connection with an alleged money laundering case involving the purchase and dealing of stolen gold, according to an ED statement.

The searches were conducted on September 23 and 24 under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002, the agency said.

The investigation was initiated based on multiple FIRs and charge sheets filed by police authorities at various stations over allegations of habitual purchase, acquisition and dealing in stolen gold articles. Information gathered by the ED also indicated alleged money laundering activities linked to the accused, the statement added.


The premises searched included residences of directors, former directors and shareholders, besides the head office and branches of Attica Gold and other associated locations.

Key persons, including PS Ayub alias Bomanahalli Babu, Obedulla A, Mohammed Salman A and Arbin Tai A, did not cooperate with the searches and remained unavailable, the ED said.

It also alleged that employees at some of the business premises had been instructed by the key persons to remain unavailable.

The searches resulted in the seizure of cash amounting to Rs 7.52 lakh, besides foreign currency, gold jewellery and silver articles, according to the ED.

Further investigation is underway, the agency said.