DRI arrests five in Bangladesh Gold smuggling case, seizes 3.1 kg Gold and foreign currency worth Rs 5.84 crore
The Directorate of Revenue Intelligence (DRI) had picked up five people who allegedly were working as part of an international network for smuggling gold from Bangladesh to Hyderabad with the help of Kolkata. In a coordinated operation the agency recovered gold and foreign currency of foreign origin valued at Rs 5.84 crore by seizing nearly 3.1 kg.
The DRI has said that the operation was based on specific intelligence and the Zonal Unit and Regional Unit at Vijayawada regularized the operation by grabbing the identified suspected gang members smuggling gold from Bangladesh and bringing it to Hyderabad for selling.
Foreign Currency Found Hidden in Scorpio
When the Intelligence, officers of the DRI, took action accordingly, they stopped a Scorpio vehicle off the outskirts of Vijayawada on the basis of the information. Authorities say they found currency from other countries hidden within a specially shaped compartment in the vehicle.
Investigators interviewed the two in its possession. They are alleged to have revealed that they had sold smuggled gold at the outskirts of Vijayawada, the agency said in a statement.
They also reportedly gave officers information that the foreign currency retrieved from the vehicle was proceeds from the sale of the smuggled gold.
Three More Suspects Intercepted on Bus
DRI officers followed the information gathered in the questioning and traced three more suspected carriers who were heading towards Hyderabad in a public bus.
The bus was stopped at a toll station and a search of the 3 suspects was performed in connection with the alleged smuggling.
This well co-ordinated task provided investigators with the impetus to pinpoint several suspects involved in various stages of the operation, from both the Hyderabad and Vijayawada units.
Investigation Ongoing in Smuggling Network
The investigators believe that the golds were brought from abroad by the network, through Kolkata and later on to Hyderabad for selling them.
The gold and foreign currency seizure is among its activities to thwart any suspected cross-border smuggling networks and also to try and follow the tails of any financial transactions linked to said activity.
At the same time the arrest of the five suspects is likely to assist investigators in pinpointing other individuals who may have been involved and potentially in the overall reach of the alleged scheme.
More information of the investigation and the suspected smuggling network could follow as DRI goes further in its investigation.