7 held for smuggling gold; 9.3 kg gold, Rs 84L seized

7 held for smuggling yellow metal; 9.3 kg gold, Rs 84L seized in Mangaluru

The total seizure was 9.3 kg of gold, valued at approximately Rs 4 crore, 5.2 kgs of silver along with Rs 84 lakh in cash. (DH Photo)

The officers of Directorate of Revenue Intelligence intercepted two persons namely Syed Mohammed and Shri Ashoka K S at Mangaluru Central Railway Station and recovered 5.6 kg of gold bars.

The operation was conducted based on specific information about a network of operators who were bringing smuggled gold in the form of crude bars from Kozhikode to Mangaluru. The gold was then remelted and cast into 100 gms bars with foreign markings, using foreign marking moulds, and was then it was being distributed to various locations in Karnataka. 

Further, one Manjunath Shet alias Rupesh, who was supposed to receive the said gold from the passengers, was also apprehended at the parking lot of the railway station.                 Simultaneous searches were conducted in three different premises in Car Street in Mangaluru, Udupi, and Shivamogga.  

Further, the source of the gold was traced to melters/jewellers in Kozhikode and swift follow up actions were conducted, leading to seizures of gold and Rs 84 lakh cash. Two cars, belonging to the syndicate having specially designed cavities for concealment, that were used for transporting cash and gold between Kozhikode and Mangaluru were also seized.

Overall seven persons were arrested during the entire operation. Further investigation is in progress to crack down on all those involved in the racket.

The team constituted of 40 officers from Bengaluru, Mangaluru and Shivamogga took part in the co-ordinated effort. 

The total seizure was 9.3 kg of gold, valued at approximately Rs 4 crore, 5.2 kgs of silver along with Rs 84 lakh in cash.

Naveen Chandra Kamath of Udupi, who was the mastermind in the case, was also apprehended.

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