India News | Maharashtra: DRI Busts Gold-smuggling Syndicate Operated by Chinese Nationals, Seizes Gold Worth Rs 1.10 Crore
Get latest articles and stories on India at LatestLY. The Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, busted an international gold-smuggling syndicate allegedly operated by Chinese nationals and seized 691.870 grams of 24-carat gold worth approximately Rs 1.10 crore, the agency said.
Mumbai (Maharashtra) [India], September 8 (ANI): The Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, busted an international gold-smuggling syndicate allegedly operated by Chinese nationals and seized 691.870 grams of 24-carat gold worth approximately Rs 1.10 crore, the agency said.
According to the DRI, the gold was concealed inside a treadmill motor and recovered from a consignment imported from Hong Kong at Mumbai's Air Cargo Complex.
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As per the agency, two persons, including a Chinese national and a person managing the importing firm, were arrested under the provisions of the Customs Act, 1962.
Following the seizure, DRI teams conducted searches at multiple locations across Mumbai, Chennai, Tiruvallur and Chengalpattu as part of the investigation.
The investigation revealed that Chinese nationals, in association with their Indian accomplices, had allegedly devised a modus operandi to smuggle gold through legitimate commercial imports.
Further details are awaited. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)