DRI busts gold smuggling racket in Mumbai, seizes items worth Rs 19.6 crore

The seized gold

In a major crackdown, the Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit (MZU) on Tuesday said that it has busted a gold smuggling racket and seized gold and items worth Rs 19.6 crore.

The DRI said that it uncovered a gold extraction and refining facility used for melting smuggled gold.

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It said that acting on specific intelligence, the DRI conducted searches at three related locations, resulting in the recovery of 23.92 kg of gold in bar and melted form, along with foreign-marked gold, 37 kg of silver, and Rs 5.4 lakh in cash.

The officials said that the mastermind behind the syndicate was arrested after statements were recorded from workers and helpers found at the premises.

The seized gold is suspected to have been smuggled, as the mastermind could not provide any legitimate source or documentation for the gold. The total value of the seized goods, including cash, is estimated at Rs 19.6 crore, the officials said.