The officials of Customs Intelligence have begun expropriating almost 495 kms of gold of Apan Jewelers as it flopped to show legal documents for the gold.
The process of expropriation begun around 9:00am, said Moinul Khan, director general of Customs Intelligence and Investigation Directorate.
The gold would be credited to the Bangladesh Bank.
The CIID officials held 498-kg of gold and some diamonds from five outlets in Gulshan, Uttara, Mouchak and Shimanto Square on May 14 and 15. The authorities kept the ornaments at the respective outlets, in accordance with the rules, and asked the shop authorities to bring the documents to the CIID office.
There was no clearness in the connection with the gold worth around Tk 250 crore, said an official concerned.
The CIID officials recently handed over 2.3 kgs of the gold to customers of Apan Jewellers. They had given the ornaments to Apan Jewellers to have repairs done.