The Directorate of Revenue Intelligence conducted raids in New Delhi and Gurgaon to uncover around 85 kg of smuggled gold that had been disguised as machine parts. Four foreign nationals: two from South Korea, one from China and Taiwan each, have been arrested in the matter.
Officials said that they had received intelligence about a gold smuggling operation originating from Hong Kong and transported through air route on cargo planes.
"The suspects were smuggling gold into India from Hong Kong using the air cargo route. The intelligence indicated that the gold smuggled in the form of machinery parts was being melted and moulded into bar/cylinder shapes before being disposed of in the local market” said officials about the bust.
The gold was hidden in electroplating machines fitted with transformers. The precious metal was found in the EI laminates of the transformers, coated with a layer of nickel.
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