Mumbai DRI busts syndicate behind smuggled gold; one held with 36 kg unaccounted gold worth ₹ 21 crore

The Directorate of Revenue Intelligence (DRI), Mumbai has busted a syndicate allegedly involved in the processing and distribution of smuggled gold. The agency has seized 36 kilograms of unaccounted gold valued at approximately Rs 21 crores and has arrested one person.

According to the DRI, during the course of investigation related to various cases of smuggling of gold through the Airport and Air Cargo Complex, Mumbai, a specific intelligence was developed by the officers of the DRI Mumbai that a syndicate involving foreign nationals is involved in processing and distribution of smuggled gold.

Payment for gold through Hawala

"It was also gathered that the payment of the said gold smuggling was happening through the Hawala channel. A discreet surveillance was mounted by a team of DRI officers on the travel pattern of a few foreign nationals and suspected Indian nationals to bust the syndicate," said an agency source.

On Monday, 23.01.2023, working on the intelligence, a well-timed and coordinated operation was planned and executed by the DRI officers. "The suspected premises where this melting and processing of smuggled gold was taking place was searched under the Customs Act. A thorough search of the premises led to the recovery of more than 36 kg of unaccounted gold at various stages of processing. On getting the gold valued, the gross value is approximately Rs 21 crores," said the official.

He added, "The person in charge of the premises confessed that he had obtained the gold from various individuals including foreign nationals in the form of capsules carried through body concealment, through travel bags, through clothes layering and also through different types of machines. The person was also found in possession of unaccounted cash of more than Rs 20 lakh."

During the course of interrogation and investigation, it was further revealed that the gold was delivered to various domestic players on daily basis based on the codes being operated by the syndicate. The search led to various evidences indicating the different methods of concealment for smuggling of gold.

"One person has been arrested in the above case. Further investigation is under progress to unearth and neutralize the illegal inflow and distribution of smuggled gold into the country," the official said.