Overview

• The Enforcement Directorate filed a prosecution complaint against art dealer Rajesh Rajpal, lawyer Vishwang (Vihang) Desai, and bullion traders Abhishek Jain and Manish Sakariya, along with Rajpal-linked entities.
• Investigators say the scheme sold 11 replicas as originals by renowned artists using forged authenticity and provenance documents and staged courier paperwork.
• ED pegs the proceeds of crime at about ₹15.7 crore from sales totaling ₹17.9 crore, noting partial repayments to the buyer after his complaint.
• About ₹4.91 crore was allegedly routed through Shree Namo Bullion and Manish Gold Palace as paper transactions, with cash returned against fabricated invoices.
• Assets worth ₹6.47 crore have been identified and seized, and the case stems from a December 2023 police complaint by senior executive Puneet Bhatia.