Hyderabad: Five persons were arrested for allegedly smuggling foreign-origin gold from Bangladesh to Hyderabad via Kolkata and transporting the proceeds of its sale in foreign currency, following a coordinated operation by officers of the Hyderabad Zonal Unit (HZU) and Vijayawada Regional Unit (RU).
The operation on October 18 led to the seizure of 3,147.1 grams of gold, USD 60,000 and 21,500 euros, collectively valued at Rs. 5.84 crore.
Acting on specific intelligence about a gang involved in smuggling foreign-origin gold, the officers intercepted a Scorpio vehicle on the outskirts of Vijayawada. A search revealed foreign currency concealed in a secret cavity in the vehicle.
During interrogation, the two occupants allegedly confessed to having delivered the gold on the outskirts of Vijayawada and said the foreign currency represented part of the sale proceeds of the smuggled gold.
Acting swiftly, the officers identified three other members of the gang travelling towards Hyderabad in a public bus. They intercepted the bus at a toll plaza and recovered three foreign-origin gold bars weighing approximately 3.1 kg from the trio. The bars had been concealed in a pouch tied around their waists.
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.
Further investigation is under way to establish the network’s operations and identify other persons involved in the smuggling racket.
