CID seeks Agarwal’s remand

The Criminal Investigation Department (CID) has sought a three-day remand for Diamond World Managing Director Dilip Kumar Agarwal in a case involving the alleged smuggling and money laundering of gold and diamonds worth Tk 6.78 billion.

CID Sub-Inspector Ashraful Hasan, the investigation officer, filed the remand petition on Tuesday (October 20). The hearing will be held at the court of Dhaka Metropolitan Magistrate Ariful Islam.

Detective Branch (DB) police arrested Agarwal from Banani on Monday evening.

The case was filed with Gulshan Police Station in November last year by CID's Financial Crime Unit Inspector Mohammad Asaduzzaman Sheikh.

According to the case statement, Diamond World legally imported gold bars, jewellery and loose diamonds worth Tk 384.7 million through letters of credit between September 6, 2006, and February 8, 2024.

However, during the same period, the company purchased, exchanged or converted gold and diamonds worth Tk 6.78 billion from the local market. Investigators said the company could not provide valid documents identifying the sources of those purchases.

The CID's preliminary investigation found that Agarwal allegedly earned the amount through the illegal trading of smuggled gold and diamonds using Diamond World and Diamond World Ltd.

Agarwal was previously arrested by the Rapid Action Battalion (RAB) on September 3, 2024, and later shown arrested in several murder cases. He was released from jail on October 1, 2025, after securing bail in all cases.

-AJM