DRI nabs gold smuggling gang in Mumbai

Gold smuggling – The officials of DRI i.e. Directorate of Revenue Intelligence’s Mumbai region office, acting on the intelligence received, busted a gold smuggling gang at two places in Zaveri Bazar on October 13 and 14.

In the first of these, 1 kg gold biscuits with no proof of legal purchase and foreign stamps were found. Based on the information received from the first raid, in another raid, 7.022 kg gold of foreign origin and Rs.1,22,10,000/- (Indian currency) proceeds from gold sale transactions were seized. 4 more raids were conducted to nab the gold smuggling gang. In one of them it was found that gold smelting was going on.

Thus, during these raids, 8.022 Kgs of smuggled foreign-made gold worth Rs.4,78,74,547 and a total compensation of Rs.1,22,10,000/- from gold sale transactions were seized.

The manager of one of these places, who is an active member of the gang and from whom foreign counterfeit gold was seized, has been arrested and sent to judicial custody. The search for other criminals in the gang is on and further investigation is underway in this case. Gold smuggling poses a major threat to the country’s economic security and DRI is committed to combating this problem in a comprehensive manner.