Daijiworld Media Network - New Delhi
New Delhi, Sep 28: The Directorate of Revenue Intelligence (DRI) has busted a pan-India gold smuggling syndicate that allegedly used courier networks to transport smuggled gold across the country, seizing 6.61 kg of foreign-origin gold worth around Rs 10.36 crore and arresting 11 persons, including an alleged key mastermind.
According to an official statement issued by the Finance Ministry on Monday, the operation was launched on the basis of specific intelligence inputs against a network allegedly smuggling gold through the Indo-Bangladesh border in West Bengal and Assam and subsequently distributing it to major markets through courier consignments.
As part of the operation, coordinated searches and interceptions were carried out simultaneously in Mumbai, Delhi, Kolkata, Ahmedabad and Guwahati.
DRI officials intercepted courier consignments containing smuggled gold that had been booked from Guwahati and Kolkata for delivery to Mumbai, Delhi and Ahmedabad. Seven recipients were apprehended during the operation.
Searches at the premises of consignors in Kolkata led to the arrest of three more persons, while a subsequent operation in Mumbai resulted in the arrest of another alleged key coordinator of the network.
Investigators found that the syndicate allegedly split the smuggled gold into multiple small consignments and sent them through courier channels to recipients in different cities for disposal in the domestic market.
The investigation also revealed that the shippers and recipients allegedly operated as paper entities or private individuals without any legitimate involvement in gold trading. The arrangement was allegedly used to conceal the source and movement of the smuggled gold transported through courier services.
The DRI seized 6.61 kg of foreign-origin gold bars valued at around Rs 10.36 crore under the provisions of the Customs Act, 1962.
In a significant development, preliminary examination of documentary evidence indicated that the syndicate had allegedly transported and delivered nearly 318 kg of smuggled gold, valued at around Rs 475 crore, through the same courier-based network during the first nine months of the current calendar year, the ministry said.
Further investigation is under way to identify other members of the syndicate and trace the proceeds and distribution channels linked to the alleged gold smuggling operation.