Andhra Pradesh: Gold, foreign currency worth Rs 5.84 cr seized, five held

The Directorate of Revenue Intelligence arrested five people and seized 3.1 kg of foreign-origin gold, US dollars and euros worth Rs 5.84 crore near Vijayawada. The suspects allegedly smuggled gold from Bangladesh through Kolkata for transportation to Hyderabad

Amaravati: Five people were arrested and 3.1 kg of gold, along with US dollars and euros, collectively valued at over Rs 5.8 crore were seized during an operation near Vijayawada, the DRI has said.

Acting on specific intelligence about a syndicate allegedly smuggling gold from Bangladesh and transporting it to Hyderabad via Kolkata, DRI officials from the Hyderabad Zonal Unit and Vijayawada Regional Unit conducted coordinated operations to intercept the suspects.

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“The DRI arrested five persons and seized 3.1 kg of foreign-origin gold, along with US dollars and euros, worth over Rs 5.8 crore in a coordinated operation near Vijayawada,” a release from the DRI said on Wednesday.

During the operation, officials intercepted a Sports Utility Vehicle (SUV) on the outskirts of Vijayawada and recovered foreign currency concealed in a secret cavity in the vehicle. The two occupants allegedly disclosed during questioning that they had delivered gold on the outskirts of the city and that the currency was part of the sale proceeds of the smuggled gold.

Following this, the DRI officials identified three other suspects travelling towards Hyderabad in a public transport bus and intercepted them at a toll plaza. Three foreign-origin gold bars weighing approximately 3.1 kg were recovered from a pouch tied around their waists.

The total seizure comprised 3,147.1 grams of gold, USD 60,000 and 21,500 euros, with the combined value estimated at Rs 5.84 crore.

All five persons allegedly involved in procuring and transporting the contraband were arrested and produced before the jurisdictional magistrate, who remanded them to judicial custody, the release said.