23-year-old Kalbadevi jeweller bought 180 kg smuggled gold in a year, arrested by DRI

The Directorate of Revenue Intelligence (DRI) arrested a 23-year-oldKalbadevi jeweller on Monday for allegedly receiving 180 kilos of smuggled gold in just the past 10 months.

At today’s bullion rates, the gold Sahil Jain received is worth Rs 66 crore. While gold smuggling is nothing new, Jain’s arrest has revealed that the amount of contraband gold entering Mumbai every year may be many times more than earlier estimated.

Jain was arrested after a tip-off received by DRI’s Mumbai Zonal Unit led it to a passenger travelling from Kolkata on Howrah Express. Identified as Gopa Ram by the DRI, the 36-year-old passenger was carrying 6.9 kg of gold to be delivered to Jain. The gold was concealed in the inner lining of a jacket.

There has been a spike in contraband gold entering Mumbai ever since the import duty on the precious metal was increased from 10 per cent to 12.5 per cent. Still, just one jeweller receiving such a large quantity of smuggled gold in just under a year has surprised DRI officers.

https://mumbaimirror.indiatimes.com/mumbai/cover-story/23-year-old-kalbadevi-jeweller-bought-180-kg-smuggled-gold-in-a-yr/articleshow/72449075.cms