The Directorate of Revenue Intelligence (DRI) uncovered a gold smuggling syndicate in Mumbai, leading to the arrest of four individuals. The operation resulted in the seizure of gold and silver worth approximately Rs 6 crore, along with cash amounting to about Rs 3.71 crore.
Acting on specific intelligence, DRI officials intercepted two individuals involved in gold smuggling as they were entering a shop on Dhanji Street in Kalbadevi. The accused confessed to carrying smuggled gold of foreign origin, in the form of cut pieces and bars, with the intention to sell them. A search of the shop yielded cash worth Rs 39.50 lakh, 3,540.27 grams of gold valued at Rs 5.50 crore, and 18,827 grams of silver valued at Rs 46.69 lakh.
Further investigations led to the recovery of large sums of Indian currency totaling Rs 3.31 crore from the residence of one of the accused in Madanpura. Various items related to gold transactions, including cash-counting machines, a gold weighing machine, and a gold bar cutter, were also found at the residence. Despite the discoveries, the accused failed to provide a satisfactory explanation or supporting documents regarding the entries found in a notebook linked to the suspected smuggled gold transactions.
DRI sources revealed that specific intelligence had identified M.I. Damudi and I.A. Damudi as the individuals involved in the gold smuggling operation. The suspects were intercepted by DRI officers while entering a shop on Dhanji Street, Kalbadevi, based on the intelligence received.
