DRI busts Chinese-led gold smuggling ring, seizes Rs 1.10 Cr gold

The DRI in Mumbai busted a Chinese-led gold-smuggling syndicate, seizing 691.870g of gold worth Rs 1.10 crore. The gold was hidden in a treadmill motor from Hong Kong. A Chinese national and another person have been arrested in the case.

The Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, busted an international gold-smuggling syndicate allegedly operated by Chinese nationals and seized 691.870 grams of 24-carat gold worth approximately Rs 1.10 crore, the agency said.

According to the DRI, the gold was concealed inside a treadmill motor and recovered from a consignment imported from Hong Kong at Mumbai's Air Cargo Complex.

Investigation and Arrests

As per the agency, two persons, including a Chinese national and a person managing the importing firm, were arrested under the provisions of the Customs Act, 1962.

Following the seizure, DRI teams conducted searches at multiple locations across Mumbai, Chennai, Tiruvallur and Chengalpattu as part of the investigation.

The investigation revealed that Chinese nationals, in association with their Indian accomplices, had allegedly devised a modus operandi to smuggle gold through legitimate commercial imports.

Further details are awaited. (ANI)

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