ACC case: Court orders arrest of Diamond World MD

A Dhaka court has ordered that Diamond World Managing Director Dilip Kumar Agarwala be shown arrested in a case filed by the Anti-Corruption Commission (ACC) over allegations of acquiring assets beyond known sources of income and money laundering.

Dhaka Metropolitan Senior Special Judge Mohammad Shahjahan Kabir passed the order on Monday (November 2), following an application by the ACC.

ACC Assistant Director and investigation officer Sajjad Hossain filed the application, stating that Agarwala allegedly acquired and possessed assets worth Tk112 crore and 47 lakh, inconsistent with his known sources of income, through dishonest means.

The application further stated that the investigation had found preliminary evidence of his involvement in the alleged offences. The ACC said his arrest was necessary for a proper investigation.

According to the ACC, 34 bank accounts operated in Agarwala's name and those of entities linked to him received deposits totalling Tk385 crore and 32 lakh and recorded withdrawals of Tk369 crore and 97 lakh.

The total transactions in these accounts amounted to Tk755 crore and 30 lakh, allegedly involving the transfer, conversion and concealment of money.

Agarwala, a former member of the Awami League's central subcommittee on industry and commerce, is also the managing director of Diamond World.