DRI seizes over 16 kg smuggled gold, Rs 2.65 cr cash; unearths syndicate with arrest of 6 persons

The Mumbai unit of the Directorate of Revenue Intelligence has busted a syndicate involved in smuggling gold with the arrest of its mastermind, his wife and four others, and seized more than 16 kg smuggled yellow metal worth Rs 10.48 crore, 6 kg silver and Rs 2.65 crore cash, officials said. The action was taken by the DRI's Mumbai zonal team based on specific intelligence that a syndicate was engaged in smuggling and selling gold in the grey market, an official said on Thursday.

''After the inputs, the DRI officials conducted a search operation on Tuesday at a premises used for selling and purchasing smuggled gold, and recovered 10.7 kg of the precious metal of foreign origin, mainly in the form of bars, along with Rs 1.8 crore cash that was proceeds of the crime,'' the agency said.

During the search, the DRI officers identified and intercepted two members of the syndicate, and a search was carried out at the residence of one of them, who was its handler, it said.

During the search of his residence, smuggled gold weighing 3.77 kg was recovered, the DRI added.

Based on further information, a search team was deployed at the residence of the mastermind of the syndicate on the same day, it said. Upon seeing the search team, the mastermind managed to throw away the incriminating material from his 14th floor residence, the statement said, adding that currency to the tune of Rs 60 lakh was recovered from his premises.

During his interrogation, the mastermind revealed that he threw his phones and two foreign-origin gold bars, it said.

''After nearly 15 hours of search and follow-up operation, mobile phones and two foreign-origin gold bars of one kg each, belonging to the mastermind, were recovered from two residents of as many housing societies located adjacent to the mastermind's premises in the intervening night,'' the statement said.

It also came to light that the mastermind's wife was also an active member of the syndicate and was attempting to flee in a car. A team was deployed to intercept her in the early hours of Wednesday and after nearly six hours of pursuit, she was nabbed, it added.

During her interrogation, she revealed that she had managed to get a safe, comprising silver and cash which are sale proceeds of smuggled gold, moved from her farmhouse to her associate's house in the intervening night, it added.

A further search was conducted at her associate's house, from where six kg silver and Rs 25 lakh cash were recovered, it added.

''In all, 16.47 kg smuggled gold valued at Rs 10.48 crore, sale proceeds of smuggled gold, six kg silver and Rs 2.65 crore cash were seized and six persons, including the mastermind of the syndicate, were arrested,'' the DRI said, adding that an investigation was underway.