The Directorate of Revenue Intelligence (DRI) recovered Dubai origin smuggled gold worth Rs 8.93 crore from a gold melting unit in South Mumbai and arrested seven persons allegedly part of a smuggling racket.
The owner of the melting facility is also among the persons arrested. The racket was involved in processing of gold smuggled from Dubai into India via carrier passengers recruited by an organized syndicate. DRI codenamed the operation as “Operation Alchemist”.
Sources said while investigating some of the gold smuggling cases in which foreign national are used for smuggling the foreign origin gold into India via Mumbai airport, DRI developed intelligence about the members of a racket which would accept smuggled foreign origin gold from the airport staff and later melt it at a gold melting unit in South Mumbai and convert them into gold bars before selling them in grey market.
