Gold Smuggling Racket Busted on India-China Border

An investigation into a gold-smuggling operation active across the India-China border reveals that 1,000 kg of gold, valued at Rs 800 crore, was smuggled into India. The operation allegedly involves a Chinese, Tibetans, and locals, with payments made via cryptocurrency.

An elaborate gold-smuggling racket has been uncovered on the India-China border, with more than 1,000 kg of gold worth Rs 800 crore illegally brought into India, authorities reveal.

The Enforcement Directorate (ED) launched a probe under the Foreign Exchange Management Act after 108 kg of foreign gold bars were seized by the Indo-Tibetan Border Police in Ladakh in July.

Further investigations reveal that a Chinese national, Bhu-Chum-Chum, orchestrated the smuggling alongside mastermind Tendu Tashi in India, using cryptocurrency for transactions. The Directorate of Revenue Intelligence detained ten individuals under the COFEPOSA Act.

(With inputs from agencies.)