DRI launches search for financier of gold- trafficking syndicate
MUMBAI: The Directorate of Revenue Intelligence (DRI) launched a search for several key operatives, including the financier-cum-mastermind of an alleged international gold-trafficking syndicate. This syndicate purportedly specialises in processing yellow metal smuggled from African countries for subsequent sale in the city to local buyers, according to sources.
The DRI had begun a crackdown on the operations of the syndicate under its scanner, seizing 9.67 kg of smuggled gold in various forms, Indian currency notes worth ₹1.92 crore, and 1.9 lakh US Dollars, the total seizure amounting to ₹10.48 crore. The agency then nabbed four accused persons, including the syndicate’s alleged operator of a melting unit that processed smuggled foreign-origin gold for subsequent sale in the city, another man who allegedly coordinated its work, and two African nationals who allegedly provided gold to it via carriers.
According to the sources, the probe is focusing on nabbing the other key operatives of the syndicate, which includes the man who controls and funds its operations and is suspected of being an Indian and the purchaser of processed smuggled gold seized by the agency during the crackdown. The syndicate allegedly operates melting facilities in the city to remove foreign markings from smuggled gold to prepare the valuables for further sale locally, the sources said.
The DRI initiated investigation based on intelligence indicating gold smuggling from Africa to India via Mumbai airport, destined for sale after melting. They raided a Mumbai melting facility, seizing 9.31 kg of gold and 16.66 kg of silver, leading to the arrest of facility’s operator and a recruiter suspected of trafficking. The recruiter allegedly gathered smuggled gold from African nationals, with his office revealing USD1,90,000 in advance payment from a purchaser. Another syndicate was busted in March, seizing 16.47 kg of gold and ₹2.65 crore in cash, with 6 individuals arrested. This crackdown followed specific information about gold smuggling and its illicit market sale, prompting searches of premises involved in such transactions.