Gold smuggling racket busted: Over 36 kg of yellow steel price Rs 21 cr seized by DRI

The Directorate of Revenue Intelligence (DRI) has busted a gold smuggling racket and seized over 36 kg of the yellow steel, amounting to almost Rs 21 crore, from Kalbadevi.

An accused, recognized as Prashant Menkar, was additionally arrested throughout a raid on Monday and Rs 20 lakh in money was recovered from his possession, the DRI official mentioned.

According to the officers, the gold was procured from a number of folks — each Indian and foreigners — over a time frame.

“The gold was smuggled in the form of capsules carried through body concealment, hiding in travel bags, clothes layering, machines and electronics,” mentioned an official

According to the DRI officers, gold smuggling has been occurring via the ‘Hawala’ channel.

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