Rapid Action Battalion (RAB) arrested Diamond World Managing Director Dilip Kumar Agarwala, according to a text message sent by Rab-1 last night.

However, the case in which Dilip was arrested was not mentioned.

Earlier yesterday, an official of the media wing of the Criminal Investigation Department (CID) said it launched an investigation into allegations against Dilip of laundering money and smuggling gold and diamonds.

An official of the CID media wing said the Financial Crime Unit of the department was tasked with conducting the investigation against Diamond World and its persons of interest.

According to CID sources, there were allegations against Agarwala of committing fraud by selling high quality glass as diamonds through his showrooms in various districts.

He also allegedly controls a Dubai-Singapore gold smuggling syndicate.

Besides, the CID is also looking into allegations against him regarding owning three jewellery shops and 11 houses in Kolkata, as well as amassing wealth illegally in Malaysia, Dubai and Canada.

Agarwala is a former president of Bangladesh Jewellers Association (BAJUS), and former director and vice president of FBCCI.

He is also Awami League's central industry and commerce sub-committee member.

For his contribution to the economy, he was announced as a Commercially Important Person (CIP) by the then government.