DRI officials seize 85 Kg gold from Chinese, South Korean & 2 other nationals in Operation “Molten Metal”

In search and seizure operations conducted in numerous rented residences in Delhi’s Chattarpur region and neighbouring Gurgaon, the Directorate of Revenue Intelligence (DRI) confiscated 85.535 kilogrammes, worth at about Rs 42 crore. The recovery was made as part of the apex anti-smuggling intelligence, investigations, and operations agency’s investigation operation codenamed “Molten Metal.”

Several Indian, Chinese, Taiwanese, and South Korean individuals were identified as part of the operation as they were accused of smuggling gold into India from Hong Kong via the air cargo route. According to the intelligence, the gold smuggled in the form of mechanical components was melted and moulded into bar and cylinder forms before being disposed of in the local market.

DRI officers investigated an import cargo at the Air Cargo Complex, Indira Gandhi International Airport, based on the intelligence. During the inspection, it was discovered that the cargo contained electroplating machines equipped with transformers. The transformers’ ‘EI’ laminates were discovered to be composed of gold coated with nickel, mainly to conceal the identity of the gold. Each of the 80 imported electroplating equipment yielded around 1 kilogramme of gold.

In a quick follow-up operation, 5.409 kg of foreign-origin gold smuggled into India earlier using a similar method was recovered from a Delhi-based jewellers. Furthermore, four foreign nationals (two from South Korea and one each from China and Taiwan) were discovered using sophisticated metallurgical techniques to convert the smuggled gold in the form of ‘EI’ laminates into bar/cylindrical form for further distribution during search operations conducted in several rented properties in Chattarpur and Gurgaon.

These activities were carried out by foreign nationals in rented farmhouses and apartments in affluent areas of South Delhi and Gurgaon, and they took enormous pains to conceal the illicit nature of their activities even from their immediate neighbours.

The four foreign nationals involved in the smuggling operations have been captured and questioned. During questioning, it was learned that two of the foreign nationals had maintained a strong relationship while imprisoned for previous gold smuggling offences.