DRI seizes foreign gold and currency worth Rs 5.84 crore, arrests five in Vijayawada operation

Hyderabad: The Directorate of Revenue Intelligence (DRI) arrested five people and seized foreign gold and currency worth about Rs 5.84 crore in an operation linked to an international smuggling network. The DRI gold smuggling case came to light after officials received specific information about gold moving from Bangladesh through Kolkata to Hyderabad.

Following the tip-off, officers from the DRI’s Hyderabad Zonal Unit and Vijayawada Regional Unit launched a joint operation. They monitored the outskirts of Vijayawada and intercepted a suspicious Scorpio vehicle.

During a detailed search, officers discovered bundles of foreign currency inside a concealed compartment. They detained the two occupants and questioned them about the cash. According to the suspects, they had delivered gold on the outskirts of Vijayawada. They also told investigators that the seized currency came from the gold sale.

Officials recovered 60,000 US dollars and 21,500 euros from the vehicle. Meanwhile, the information provided by the two men helped officers trace three gold carriers travelling towards Hyderabad.

DRI gold smuggling probe uncovers gold carried on a bus

Acting on the leads, DRI officials identified three carriers travelling towards Hyderabad on a state road transport bus. Officers intercepted the bus at a toll plaza along the route and detained the men.

During searches, officers found pouches strapped around the carriers’ waists. Inside them, they recovered three foreign-marked gold biscuits weighing a total of 3,147.1 grams. Each biscuit weighed approximately one kilogram.

The DRI estimated the combined market value of the seized gold and foreign currency at around Rs 5.84 crore. In addition, investigators linked the seizure to an alleged smuggling route running from Bangladesh through Kolkata towards Hyderabad.

Following the operation, officials arrested all five suspects for their alleged roles in purchasing, transporting and handling the gold and foreign currency. They produced the accused before a magistrate, who remanded them to judicial custody.

The investigation is continuing. In particular, DRI officials are working to identify the alleged masterminds behind the network. They are also examining the roles of those involved in purchasing, moving and selling the gold.