ED Busts International Gold Smuggling Racket; Seizures Worth Crores Of Rupees Made
- Enforcement Directorate seize 16.655 kgs of gold, 671kgs of silver and Rs 1 crore 41 lakh cash from jewellers.
- A raid was carried out at 21 locations from August 5-7 in CG and Jharkhand.
- The raid was initiated based on Prosecution Complaint filed by DRI.
Raipur: In a big development, the ED on Wednesday announced to have busted a gold smuggling racket and other precious metals being trafficked from Bangladesh into Raipur via Kolkata. The ED on August 5th initiated a search at 21 locations in Raipur and Jharkhand. Precisely offices of jewellery, textiles and chartered accountants in Raipur, Durg- Bhilai and Rajanadgaon.
During the search from August 5-7, the ED claims to have seized 16.655 kgs of gold, 671kgs of silver and Rs 1 crore 41 lakh cash from the premises of jewellery traders. The information of which was shared on Twitter.
The search based on money laundering was carried out on the basis of a Prosecution Complaint filed by DRI under Section 135 of the Customs Act, 1962 after DRI caught a professional carrier smuggling gold and other precious metals through off routes and illicit channels.
“DRI recovered Gold from his possession which was of foreign origin and was brought into India from Bangladesh through a smuggling channel and was transported from Kolkata to Raipur for its consumption at Raipur by Vijay Kumar Baid alias Vicky and others. A number of such cases have been booked by the law enforcement agencies against the offenders involved in the recent times,” ED said in an official statement
In its statement, the federal agency mentioned that the modus operandi of this syndicate is to smuggle foreign gold into the country from Bangladesh through Myanmar after which it further moves to CG through road and train transport.