MUMBAI: An official reported that the Directorate of Revenue Intelligence (DRI) conducted a raid on a gold melting facility and a jewelry shop in Mumbai, leading to the seizure of smuggled gold valued at Rs 3.62 crore, along with Rs 2.95 crore in cash and 2.1 kilograms of gold.
This operation took place on Thursday.
According to a release from the DRI, eight individuals have been apprehended in connection with this incident.
Among those arrested are five women, including four Kenyan nationals and one Tanzanian, who were employed as carriers for the smuggled gold.
As per the release, acting on precise intelligence, the DRI discreetly conducted searches at the locations where smuggled gold was being melted.
Subsequently, they carried out searches at the premises of a jeweler who had purchased the illicit gold.
The statement further revealed that during the searches, authorities seized 2.1 kilograms of smuggled gold in addition to USD 1 lakh, equivalent to Rs 84.15 lakh in Indian currency, and Rs 2.32 crore in cash.
These assets represent the proceeds derived from the sale of smuggled gold and were recovered from both the gold melting facility and the jewelry shop in Mumbai.
The statement indicated that the owner and operator of the melting facility has a history of criminal activity and is a repeat offender.
Furthermore, the individual is wanted in connection with other cases.
The release mentioned that due to the vigilant efforts of the DRI, searches were carried out in two hotels from where the accused individuals from Africa were conducting their business activities.
The operation yielded the recovery of USD 3,31,600, which amounts to Rs 2,78,70,980 in Indian currency, as well as Rs 63,07,500 in cash.
These assets are attributed to the sale of smuggled gold.
The investigation uncovered a connection between the five African women and the owner-operator of the melting facility.
It appears that they collaborated to redirect smuggled gold and acquire cash in both foreign and Indian currency.
According to the statement, the gold was initially gathered by aggregators from a variety of carriers, predominantly Kenyan and Tanzanian nationals.
Subsequently, it was handed over for the purpose of melting and subsequent sale to jewelers in exchange for cash.
The statement highlighted that the funds collected by the person responsible for melting the gold were then distributed among the aggregators, who, in turn, divided the money among the different carriers.
This operation represents a substantial crackdown on smuggling networks that involve African nationals as carriers.
In April of this year, the Directorate of Revenue Intelligence (DRI) successfully dismantled yet another similar syndicate that had been using Sudanese nationals as carriers.
With agency inputs
This operation took place on Thursday.
According to a release from the DRI, eight individuals have been apprehended in connection with this incident.
Among those arrested are five women, including four Kenyan nationals and one Tanzanian, who were employed as carriers for the smuggled gold.
As per the release, acting on precise intelligence, the DRI discreetly conducted searches at the locations where smuggled gold was being melted.
Subsequently, they carried out searches at the premises of a jeweler who had purchased the illicit gold.
The statement further revealed that during the searches, authorities seized 2.1 kilograms of smuggled gold in addition to USD 1 lakh, equivalent to Rs 84.15 lakh in Indian currency, and Rs 2.32 crore in cash.
These assets represent the proceeds derived from the sale of smuggled gold and were recovered from both the gold melting facility and the jewelry shop in Mumbai.
The statement indicated that the owner and operator of the melting facility has a history of criminal activity and is a repeat offender.
Furthermore, the individual is wanted in connection with other cases.
The release mentioned that due to the vigilant efforts of the DRI, searches were carried out in two hotels from where the accused individuals from Africa were conducting their business activities.
The operation yielded the recovery of USD 3,31,600, which amounts to Rs 2,78,70,980 in Indian currency, as well as Rs 63,07,500 in cash.
These assets are attributed to the sale of smuggled gold.
The investigation uncovered a connection between the five African women and the owner-operator of the melting facility.
It appears that they collaborated to redirect smuggled gold and acquire cash in both foreign and Indian currency.
According to the statement, the gold was initially gathered by aggregators from a variety of carriers, predominantly Kenyan and Tanzanian nationals.
Subsequently, it was handed over for the purpose of melting and subsequent sale to jewelers in exchange for cash.
The statement highlighted that the funds collected by the person responsible for melting the gold were then distributed among the aggregators, who, in turn, divided the money among the different carriers.
This operation represents a substantial crackdown on smuggling networks that involve African nationals as carriers.
In April of this year, the Directorate of Revenue Intelligence (DRI) successfully dismantled yet another similar syndicate that had been using Sudanese nationals as carriers.
With agency inputs
