Massive Gold Smuggling Racket Busted in India
NEWS CHARIOT:-The Directorate of Revenue Intelligence (DRI) has once again made a significant gold bust. During their inspection, officials seized 88 kg of gold and 19.66 kg of jewelry. Authorities also confiscated a large amount of cash. This operation, conducted on March 17 in collaboration with the Gujarat Anti-Terrorism Squad (ATS) in Ahmedabad’s Paldi area, exposed an extensive illegal gold smuggling network.
DRI officials, along with ATS, raided a residential flat and seized the gold. Most of the seized gold bore foreign markings, but evidence suggested it was being illegally transported into India. According to government reports, a total of 87.92 kg of gold bars were confiscated. The gold bore markings from countries such as Japan, the USA, Australia, and the UK. Authorities estimate its market value to be around ₹80 crore.
In addition to gold, the operation also led to the seizure of 19.66 kg of jewelry and 11 luxury watches. Among them was a Franck Muller watch and high-end timepieces from Patek Philippe and Jacob & Co, adorned with diamonds. These findings significantly increased the estimated value of the seizure. The government stated that the valuation process is still underway, but the total worth of the jewelry and watches is expected to exceed ₹100 crore.
Apart from gold and luxury items, officials also seized ₹1.37 crore in cash from the same location. The cash is suspected to be linked to illegal transactions and tax evasion. Over the past three years, DRI has conducted several operations to curb illegal smuggling activities across different regions. This latest operation once again highlights the efficiency and vigilance of the DRI authorities.
