4 Foreign Nationals Arrested, 85 Kg Gold Seized
- Directorate of Revenue Intelligence (DRI) arrested four foreign nationals.
- Seized 85.535 kg gold.
- Four foreign nationals involved in the smuggling activities.
New Delhi: During an intelligence operation code-named “Molten Metal,” the Directorate of Revenue Intelligence (DRI) arrested four foreign citizens and seized 85.535 kg gold from their possession. On Friday, the recovered gold, weighing a total of 85.535 kg and estimated to be worth Rs 42 crore, was seized.
The four foreign nationals involved in the smuggling activities have been arrested and are being questioned, according to a Ministry of Finance announcement. Four foreign nationals (two from South Korea, one each from China and Taiwan) were discovered using sophisticated metallurgical techniques to convert the smuggled gold in the form of ‘EI’ laminates into bar/cylindrical form for further distribution during search operations conducted in several rented properties in Chattarpur and Gurgaon.
The gold smuggled in the form of mechanical components was melted and moulded into bar/cylinder shapes before being sold in the local market, according to the information. DRI officers investigated an import consignment at the Air Cargo Complex, Indira Gandhi International Airport, based on the intelligence, according to the announcement.
During the inspection, it was discovered that the shipment contained electroplating machines with transformers. The transformers’ ‘EI’ laminates were discovered to be gold-coated with nickel, primarily to mask the gold’s identity. Each of the 80 imported electroplating equipment yielded around 1 kilogramme of gold.