DRI Busts Gold Smuggling Syndicate; Seizes 42 Kilograms of Smuggled Gold

SEATTLE (Scrap Monster): The Directorate of Revenue Intelligence (DRI) seized nearly 42 kilograms of smuggled gold in raids carried out in several premises across the country. The seized gold was worth approximately INR 16.5 crores.

The DRI acted on intelligence that gold smuggled from Bangladesh, in the form of bars, biscuits, cut pieces and jewellery were being stored in premises in Kolkata under the possession and control of the seven accused. A total of 26.650 kilograms of gold and more than 500 grams of gold jewellery were recovered and seized under the provisions of Customs Act.

ALSO READ: Two Foreign Nationals Arrested at Indian Airports for Gold Smuggling

Investigations revealed that the accused had already sent two consignments to Raipur and Mumbai by train. The DRI officials intercepted the carriers of smuggled gold on their way and seized 15 kilograms of gold. Additional three persons were arrested in connection with this incident.

All the ten accused were arrested. According to DRI, the two-day operations and the subsequent arrests have uncovered a powerful gold smuggling syndicate with overseas links. 

India is said to be one of the world's largest gold smuggling hubs.