Two Rajkot Brothers Held For Smuggling 50 Kg Gold Worth Rs 105 Crore In 6 Months
The duo has reportedly smuggled in around 350kg gold valued at Rs 105 crore through 21 consignments at the courier terminal at Sahar over six months, said sources.
Two businessmen brothers from Rajkot were arrested by the directorate of revenue intelligence on Saturday for allegedly smuggling in 50kg of gold. The duo has reportedly smuggled in around 350kg gold valued at Rs 105 crore through 21 consignments at the courier terminal at Sahar over six months, said sources.
Milan Patel, a partner in Metro Gold and Diamond Jewellery in Dubai, hit upon the idea of smuggling precious metal after several customers began to request gold in various shapes; he hired a local artisan for the purpose. "He then thought of smuggling gold on a large scale by melting it with the help of his brother Gautam," said an official.
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Gautam is into the manufacture of induction furnaces and runs Champion Exim Co in Rajkot. He also dabbles in import and export. The brothers, who reportedly own a five-storey building in Rajkot, have been sent to judicial custody till January 5.
The duo initially sent copper concealed in machine parts and got the consignment cleared without hassle. They then procured gold from African countries, got it melted in Dubai and smuggled it into India by similarly hiding it in machine parts. Scanning at the courier terminal threw up dark images indicating that it contained metal. But unless the goods are opened and examined, it is not possible to find concealed gold. Initially, they smuggled in only half a kg of gold in eight machine parts and gradually increased the quantity to 1kg. They smuggled in 35kg gold on December 16, and another 40kg on December 20, said officials.
Mohammed Hanif, a Pakistani national based in Dubai, allegedly offered to help Milan conceal gold, the remand application stated. Hanif was paid UAE dirham 1,200 or Rs 21,000 for concealing 1kg gold. Hanif suggested that the rejected machine parts exported by Gautam to various companies in Dubai could be used for hiding the metal. The brothers made a profit of Rs 1.3 lakh on every kg.
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Gautam took delivery of goods in Rajkot. Milan would fly down to Rajkot and sell it to jewellers in Rajkot, Ahmedabad and Jamnagar with the help of a commission agent, one Raju. Payment was directly made to Milan in Dubai through the hawala route and gold would be handed over only after confirming receipt of payment.
DRI is in the process of identifying jewellers who bought the smuggled gold and contemplating legal action against them. Information available now suggests they haven't sold smuggled gold in Mumbai.