Operation Molten Metal: DRI seizes 85.5 kg gold, apprehends 4 foreign nationals

New Delhi : Nov 19, 2009 - The Directorate of Revenue Intelligence has seized 85.535kg gold worth approximately Rs 42 Crore from four international nationals who were involved in international smuggling.

Many Indian, Chinese, Taiwanese, and South Korean nationals were accused of smuggling silver into India via Hong Kongs air cargo route.DRI Operation identified the smuggling network and set up a trap for the criminals.

According to intelligence, the gold that was smuggled as machinery parts was melting and being formed into bars/cylinder shapes.Then it was sold in the local marketplace.

DRI officers acted on the intelligence and examined an import shipment at the Indira Gandhi international Airport in Delhi.The consignment contained electroplating machines with transformers, as discovered during the inspection.

It was discovered that the EI" laminates on the transformers had been coated in nickel and made from gold, which was essentially used to conceal the true identity of the metal.Each of the imported 80 electroplating machines was found to have approximately 1kg gold.A swift investigation led to the further capture of another 5.409 kilograms of gold of foreign origin, smuggled into India from an earlier operation.This was done by a Delhi-based jeweller.

Further, in search operations at several Chattarpur and Gurugram rented properties, it was discovered that four foreign nationals, two from South Korea, one from China, and one from Taiwan, were using advanced metallurgical methods to transform the smuggled EI" laminates of the gold into bar/cylindrical forms for distribution.These activities were being conducted by the foreign nationals in rented farmhouses/apartments in plush localities of south Delhi and Gurugram, and extreme precautions were being taken by them to keep the illegal nature of their activities hidden even from their immediate neighbours.Recovered gold, totaling 85.535kg and worth approximately Rs 42 crore has been taken into custody.Four foreign nationals who were involved in the smuggling have been arrested and are currently being interrogated.

It was revealed during questioning that the two foreign nationals were in a long-lasting relationship despite being held behind bars for previous gold smuggling offenses.Additional investigation is ongoing.

sn/ar #Molten #seizes #gold #apprehends #eign #nationals #Delhi.