The DRI busted a Delhi-based gold smuggling syndicate, arresting eight people. The operation seized 9 kg gold, 42 kg silver, and foreign currency worth Rs 8.15 crore, uncovering a melting facility and an international financing network.
In its continued crackdown against cross border gold smuggling, Directorate of Revenue intelligence (DRI) officers busted another Delhi-based gold smuggling syndicate involved in smuggling foreign-origin gold from the North Eastern region to Delhi using multiple carriers travelling by different trains.
The DRI has seized around 9 kg smuggled foreign-origin gold, 42 kg silver, foreign currency worth about Rs 8.15 crore, and Rs 26.67 lakh in Indian currency, while arresting eight people, according to a statement released by Ministry of Finance on Wednesday. The syndicate staggered the movement of carriers to reduce risk of detection. They operated a melting facility in a densely populated residential area of Delhi, the release said.
Coordinated Raids and Seizures
According to the release, on June 26, DRI officers intercepted two carriers at New Cooch Behar Railway Station in West Bengal and Mansi Junction in Bihar, recovering around 2 kg of concealed gold bars. At the same time, two more people were apprehended in Delhi with around 1.2 kg of smuggled gold.
The ministry said these operations "led to the detection of an illicit gold-melting facility in Delhi," following which all four persons were arrested.
In a separate operation on the same day, DRI officers intercepted a woman travelling by train from Sairang to Kolkata and recovered 20 foreign-origin gold bars weighing around 3.3 kg that had been concealed in a customised waist belt. She was also arrested.
International Financing Network Uncovered
The investigation also uncovered an international financing network linked to precious metal smuggling. According to the release, DRI officials in Chennai intercepted domestic air cargo consignments and recovered foreign currency comprising USD 758,500 and Thai Baht 3.5 million, valued at around Rs 8.15 crore.
The Ministry of Finance said the probe revealed that "the foreign currency was being smuggled out of India through various conduits and was being used to fund inward smuggling of precious metals back into country." Based on the investigation, DRI intercepted one recipient of the foreign exchange at Bengaluru airport after he arrived from Dubai with 1.8 kg of gold. Subsequent searches at his residence led to the recovery of around 42 kg of silver, 700 grams of gold jewellery and Rs 26.67 lakh in Indian currency. The ministry said the case "establishes a direct operational link between the illicit procurement of foreign currency in India, its smuggling abroad, and the organised smuggling of gold and silver back into the country." (ANI)
(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)