International Gold Smuggling Racket Busted In Delhi, Gold Worth Rs 21 Crore Seized

The Directorate of Revenue Intelligence (DRI) has busted a trans-border gold smuggling syndicate and seized 15 kg of foreign-origin smuggled gold, valued at Rs 21.40 crore, and arrested four persons, the finance ministry said on Tuesday.Preliminary investigations also reveal that crypto-currency was being used to transfer the money across borders to finance the smuggling, the ministry added.DRI officers intercepted an international courier consignment originating from Thailand at Courier Terminal, Delhi. The consignment was in the name of a firm linked to a foreign national, the ministry said.A meticulous examination of the consignment declared as "worn gear", led to the recovery of eight disc-shaped pieces of foreign-origin gold, each weighing 1.5 kg, ingeniously concealed inside gear parts. In total, 12 kg of smuggled foreign-origin gold was recovered from the courier consignment.Simultaneous searches conducted at the residence of the intended recipient and the alleged mastermind resulted in the recovery of two more identical disc-shaped pieces of foreign-origin gold, each weighing 1.5 kg.Four persons, including the mastermind, who is a repeat offender, and a foreign national, have been arrested in relation to the case, the ministry said.(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)