In a significant breakthrough, the Directorate of Revenue Intelligence (DRI) uncovered an international gold smuggling racket operating in Mumbai’s renowned Zhaveri Bazar. Acting on specific intelligence, a DRI team conducted a raid on a melting facility in the area on April 22, resulting in the seizure of a substantial amount of precious metals.
Seizure Details
During the operation, DRI officers confiscated a total of 9.31 Kg of gold in various forms, including foreign-origin gold, along with 16.66 Kg of silver. The raid also led to the apprehension of the operator of the melting facility and a key member of the syndicate responsible for coordinating carriers and processing the smuggled gold.
Modus Operandi of the Syndicate
Investigations revealed that the syndicate operated by collecting gold from carriers, primarily African nationals, and processing it at the melting facility to remove foreign markings before introducing it into the local market. Additionally, the DRI team recovered USD 190,000 from the recruiter’s office, provided as an advance payment by a buyer.
Arrests and Seized Assets
Following leads from the recruiter’s office, the DRI intercepted two African nationals residing in nearby hotels, identified as carriers responsible for delivering the smuggled gold. Subsequent interrogations led to the arrest of all individuals involved, including carriers, recruiters, and the melting facility operator. The seized assets include 9.67 Kg of gold, 18.48 Kg of silver, Indian currency worth Rs. 1.92 Crores, and USD 190,000, collectively valued at Rs. 10.48 Crore.
This operation marks a significant success in the fight against illegal gold smuggling, with the DRI’s swift action leading to the dismantling of a sophisticated syndicate operating in Mumbai’s bustling trading hub.
