DRI Raids Gold Melting Facility and Jewellery Shop, Seizes Smuggled Gold and Cash Worth Crores

DRI Raids Gold Melting Facility and Jewellery Shop, Seizes Smuggled Gold and Cash Worth Crores

VoM News Desk | October 13, 2023 | 07:03 AM IST | Breaking News | Follow on Google News

DRI Raids Gold Melting Facility and Jewellery Shop, Seizes Smuggled Gold and Cash Worth Crores

DRI Raids Gold Melting Facility and Jewellery Shop, Seizes Smuggled Gold and Cash Worth Crores

In a recent operation, the Directorate of Revenue Intelligence (DRI) conducted a raid on a gold melting facility and a jewellery shop, resulting in significant seizures. The DRI seized sales proceeds from smuggled gold worth Rs 3.62 crore, Rs 2.95 crore in cash, and 2.1 kilograms of gold. Eight individuals were arrested, including five women, four Kenyans, and a Tanzanian, who were used as carriers of the smuggled gold.

Acting on specific intelligence, the DRI conducted covert searches at the gold melting facility and the premises of a jeweller who purchased the smuggled gold. During the searches, they seized 2.1 kilograms of smuggled gold, USD 1 lakh (equivalent to Rs 84.15 lakh in Indian currency), and Rs 2.32 crore in cash, which were identified as sale proceeds from smuggled gold.

Repeat Offender and Connections Uncovered

The owner and operator of the melting facility was identified as a repeat offender wanted in other cases as well. A stringent vigil by the DRI led to searches in two hotels where the accused individuals from Africa conducted their business. These searches resulted in the recovery of foreign currency worth USD 3,31,600 (equivalent to Rs 2,78,70,980) and Rs 63,07,500 in cash, all proceeds from smuggled gold. The investigation revealed a nexus between the five African women and the owner-operator of the melting facility, highlighting the diversion of smuggled gold and the exchange of cash in foreign and Indian currency.

Smuggling Syndicate Involving African Carriers

The gold collected by aggregators from various carriers, primarily Kenyan and Tanzanian individuals, was then passed on for melting and subsequent sale to jewellers for cash. The money collected by the melter was returned to the aggregators, who distributed it among the various carriers. This operation signifies a significant bust of smuggling syndicates involving African nationals as carriers. Earlier in April, a similar syndicate that used Sudanese nationals as carriers was busted by the DRI.

VoM News Desk

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