Operation Bullion Blaze: DRI's Bold Move Against Gold Smuggling In Mumbai

The Directorate of Revenue Intelligence dismantled a major gold-smuggling syndicate in Mumbai, seizing 11.88 kg of gold and arresting 11 individuals. 'Operation Bullion Blaze' targeted illegal melting units and shops, uncovering a sophisticated scheme aimed at defrauding the government and violating India's gold import policy.

In a significant move against illegal activities, the Directorate of Revenue Intelligence (DRI) has launched 'Operation Bullion Blaze,' a crackdown on a gold-smuggling syndicate in Mumbai. The operation revealed a complex network involved in bringing gold into the country, melting it in hidden furnaces, and selling the refined bullion illicitly.

Based on precise intelligence, DRI officials conducted simultaneous raids on November 10 at four strategic locations in Mumbai, comprising two covert melting units and two unregistered shops. These setups were found equipped for converting smuggled gold into bars. The operation led to the apprehension of operators and the recovery of 6.35 kg of gold.

Further inspections at the associated shops enabled authorities to seize an additional 5.53 kg of gold. Overall, a total of 11.88 kg of 24-carat gold, valued at approximately Rs 15.05 crore, along with 8.72 kg of silver, were confiscated under the Customs Act, 1962. Eleven persons, including the mastermind and his accomplices, were arrested.

The syndicate, managed by a mastermind with a history of gold smuggling, involved his father, a manager, hired melters, and support staff, all operating against India's import regulations and aimed at dodging duties. Those involved were presented before the judicial authority, with ongoing investigations.

The DRI remains committed to dismantling such networks that threaten economic stability by draining revenue and distorting markets. The agency's proactive measures are meant to ensure a transparent trading environment and protect fiscal stability. The investigation continues. (ANI)

(With inputs from agencies.)