Hyderabad: 4 arrested for smuggling gold worth Rs 1.38 crore.
Four persons were arrested by Directorate of Revenue Intelligence officials in Hyderabad Tuesday for smuggling gold worth Rs 1.38 crore. Foreign-make gold weighing 3099 grams in 31 pieces was seized.
After receiving specific intelligence that four persons were traveling to Hyderabad by road along the Bengaluru-Hyderabad highway, the DRI-Hyderabad unit mounted surveillance at Raikal toll plaza on the outskirts of the city to nab them.
According to an official press statement, the officials intercepted one person traveling by a private bus at the toll plaza and subsequently, three more persons who were traveling by a private cab were caught.
“They were found to be carrying a total of 31 pieces of foreign-origin gold bars of 999 purity, totally weighing 3099 grams and valued at Rs 1.38crore. The smuggled gold of foreign-origin was being carried without any documents, and the four persons failed to prove licit import of the gold bars,” the statement said.
The four persons admitted that they were smuggling gold and they were indulged in the activity in exchange for financial consideration, the statement read. The four were arrested under the provisions of Customs Act, 1962 and further investigation is on.