Mumbai: Gold-smuggling racket busted, over 106 kg gold seized
The Directorate of Revenue Intelligence (DRI) has claimed to have busted a massive gold smuggling racket with the seizure of 106.9 kg of gold and arrest of seven persons in Mumbai. Acting on a tip-off, its sleuths seized 75 kg of smuggled gold concealed in two vehicles in Mumbai's Dongri area recently and detained Abdul Ahad Zarodarwala, Shaikh Abdul Ahad and Shoeb Zarodarwala.
Shoeb, Abdul sold smuggled gold in wholesale market for commission
Shoeb Zarodarwala and Abdul Ahad Zarodarwala allegedly admitted that they had received a total of over 200kg of smuggled gold from one Nisar Aliyar. They sold smuggled gold in the wholesale market for a commission and one of their customers was Raju alias Manoj Jain, who had bought around 100 kg of smuggled gold from them in the past, the two told DRI sleuths.
Sale proceeds were sent through 'non-banking channels', said the accused
The sale proceeds were sent through "non-banking channels" (hawala) and they had sent Rs. 12 crore through one Aaquil Fruitwala to Dubai, the duo allegedly revealed. Aliyar, when summoned by the DRI, allegedly confessed that he had smuggled more than 200 kg of gold into India from Dubai by concealing the metal in containers of brass scrap.
Arrested men remanded in judicial custody, further probe is on
Apart from Zarodarwalas, he had also sold around 30kg of smuggled gold to Happy Dhakad, said Aliyar. Total 106.9kg of gold and Rs. 1.81 crore in cash have been seized during the probe so far. Aliyar, Shoeb Zarodarwala, Abdul Ahad Zarodarwala, Shaikh Abdul Ahad, Dhakad, Jain and Fruitwala were arrested and remanded in judicial custody while further probe is on, the DRI said.