New Delhi: The Directorate of Revenue Intelligence (DRI) dismantled a trans-border gold smuggling network and seized 15 kg of foreign-origin smuggled gold worth about Rs. 21.40 crore in Delhi. The DRI gold bust also led to the arrest of four people, including the alleged mastermind and a foreign national.
According to the agency, officers intercepted an international courier shipment that had arrived from Thailand at the Courier Terminal in Delhi. The consignment was addressed to a firm linked to a foreign national and was declared as “worn gear.”
A detailed examination uncovered eight disc-shaped pieces of foreign-origin gold concealed inside gear parts. Each disc weighed 1.5 kg, taking the total recovery from the courier consignment to 12 kg.
Investigators simultaneously carried out searches at the residence of the intended recipient and the alleged mastermind. During these searches, officers recovered two more disc-shaped gold pieces weighing 1.5 kg each, raising the total seizure to 15 kg.
Investigation reveals cross-border funding pattern
The DRI gold bust resulted in the arrest of four accused. Officials identified one of them as the alleged mastermind, who is a repeat offender. A foreign national was also among those arrested.
Preliminary investigations indicated that the syndicate used cryptocurrency to transfer money across borders and finance the smuggling operation.
The Directorate of Revenue Intelligence said the investigation is continuing to identify other members of the network and trace the financial transactions linked to the case.
