Dilip Agarwala shown arrested in ACC case

A Dhaka court has ordered that Dilip Kumar Agarwala, managing director of Diamond World, be shown arrested in a corruption case filed by the Anti-Corruption Commission (ACC) over allegations of illegally acquiring wealth and laundering money.

The order was passed on Monday (November 2) by Judge Md Shahjahan Kabir of the Dhaka Metropolitan Senior Special Judge’s Court after hearing an application filed by the ACC.

In its application, investigation officer and ACC Assistant Director Sazzad Hossain alleged that Agarwala had illegally acquired and possessed assets worth Tk 1.12 billion (Tk 112 crore, 47 lakh and 28 thousand and 407) disproportionate to his known sources of income. The application said preliminary findings of the investigation had established his suspected involvement in the alleged offences. The investigator argued that showing him arrested was necessary to ensure a fair and impartial investigation.

The ACC's investigation also found that 34 bank accounts were operated in the names of Agarwala and entities linked to his interests. A total of Tk 3.85 billion (Tk 385 crore, 32 lakh and 62 thousand and 123) was deposited into the accounts, while Tk 3.69 billion (Tk 369 crore, 97 lakh and 94 thousand and 140) was withdrawn. The transactions amounted to Tk 7.55 billion (Tk 755 crore, 30 lakh and 56 thousand and 263), allegedly involving the transfer, conversion and movement of funds.

The ACC's Dhaka-1 Integrated District Office filed the case on October 8 last year over the allegations.

Earlier this month, Agarwala was arrested in a separate case. The Detective Branch (DB) of police arrested him from the capital's Banani in connection with an attempted murder case involving a student who was shot on the day Sheikh Hasina was ousted in the 2024 mass uprising. A court subsequently remanded him in police custody for four days in that case.

He had also been arrested by the Rapid Action Battalion (RAB) on September 3, 2024, following the fall of the Awami League government, over allegations of gold and diamond smuggling, fraud, forgery and money laundering.

Agarwala is a former president of the Bangladesh Jeweller's Association (BAJUS) and a former director and vice-president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). He was also a former member of the Awami League's central subcommittee on industry and commerce.