Mangalore: The officers of Directorate of Revenue Intelligence and recovered 5.6 kgs of gold bars at Mangalore Central Railway Station on Thursday.
According to reports, the operation was conducted based on specific information about a network of operators who were bringing smuggled gold in the form of crude bars from Calicut to Mangalore.
The total seizure was 5.6 kgs of gold, valued at approximately 4 crores, 5.2 kgs of silver along with Rs 84 lakh in cash.
The smuggled gold is remelted and cast into 100 gram bars with foreign markings, using foreign marking moulds, and gets distributed to various locations in Karnataka.
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Further, three people were arrested along with one who was supposed to receive the said gold from the passengers was also apprehended at the parking lot of the railway station.
Simultaneous searches were conducted in three different premises in Mangalore, Udupi, and Shimoga.
Further, the source of the gold was traced to melters/jewellers in Calicut and swift follow up action was conducted leading to seizures of gold and Rs 82 lakh cash. Two cars belonging to the syndicate having specially designed cavities for concealment which were used for transporting cash and gold between Calicut and Mangalore were also seized.
Overall seven people were arrested during the entire operation. Further investigation is ongoing.
