ED searches Attica Gold premises over stolen-gold allegations

This is a press release issued by the Directorate of Enforcement (ED), Bengaluru Zonal Office, announcing search operations conducted under the Prevention of Money Laundering Act (PMLA), 2002, against M/s Attica Gold Private Limited and its associates for alleged involvement in purchasing stolen gold and money laundering.

Who it concerns: M/s Attica Gold Private Limited, its shareholders, directors, and associates including P.S. Ayub (alias Bomanahalli Babu), Obedulla A, Mohammed Salman A, Arbin Taj A, and their family members.

What the ED says it did

• Searches were conducted on 23.09.2026 and 24.09.2026 at 16 premises in Bangalore, Chennai, Hyderabad, and Visakhapatnam.
• The investigation was initiated based on multiple FIRs and Charge-Sheets filed by Police Authorities alleging habitual purchase and dealing in stolen gold articles.
• The ED alleged that the accused persons amassed proceeds of crime through money laundering activities.
• Key persons and employees instructed to remain unavailable did not cooperate during the search proceedings.
• The ED seized cash amounting to Rs. 7,52,000/-, along with foreign currency, gold jewellery, and silver articles.

Also in the document

• The ED stated that key persons including P.S. Ayub, Obedulla A, Mohammed Salman A, and Arbin Taj A remained absconding during the search proceedings.
• Employees at the business premises were instructed by key persons to remain unavailable during the searches.