Hyderabad: The Central Crime Station will be soon filing a chargesheet against Nithin and Nikhil Gupta, directors of Musaddilal Jewellers Pvt Ltd, and other accused, in the cases pertaining to conversion of black money into white post-demonetisation.
CCS deputy commissioner of police Avinash Mohanty said, “We have finalised the chargesheets in the Musaddilal cases and will be soon filing them in the Nampally criminal court. We have tightened the loose ends in the case.”
ED probed Musaddilals under PMLA
The Guptas were arrested in February on charges of conspiracy, cheating, falsifying acc-ounts, forgery and concealing evidence. The key allegation is that they converted '110 crore of black money into white by creating fictitious buyers of gold.
During the investigation, 13 bank accounts of the jewellery and bullion merchants had been frozen, including accounts linked to firms owned by Nitin Gupta, into which the black money had been funnelled. The Enforce-ment Directorate also investigated the Musad-dilal case for violations of the Prevention of Money Laundering Act.
