Chennai: Officials of the Directorate of Revenue Intelligence, Chennai Zonal Unit, on Friday seized 17.9 kg of gold of foreign origin valued at Rs 6.24 crore, from a syndicate's hideout in Mannady.
The gold had been smuggled into India through Chennai Airport. The kingpin of the racket, his aide, a close relative and two carriers -- were arrested.
Sources said the smuggled goods also included Apple iPhones, smart watches, USB chips, solid state storage devices, camera lenses, cigarettes, and domestic appliances intended for distribution in the grey market, which was totally valued at about Rs 1.1 crore.
The remnants of the appliances from which the concealed gold was retrieved, and tools used for retrieval of the gold were also seized.
The officers also seized Indian and foreign currency amounting to Rs 33 lakh, which the smugglers admitted was the proceeds of the sale of smuggled gold and other goods, to be remitted through hawala channels.
The officers also seized three vehicles - a Toyota Innova, a Hyundai Creta, and a Honda Amaze - used by the syndicate to transport the smuggled goods to their den at Mannady where the gold would be extracted and disposed of in the grey market.
Primary investigations revealed that the syndicate was working in coordination with a mastermind in Malaysia. Passengers returning to India from Dubai, Malaysia and Singapore would be identified and coaxed to carry the appliances and gadgets to India and hand them over to syndicate members waiting outside the airport, for a monetary consideration.
In another landmark seizure on Monday, officers of the DRI Chennai Zonal Unit rummaged through an aircraft at Chennai Airport and seized 5.72 kg of gold of foreign origin valued at Rs 1.97 crore, concealed deep inside the hollow of one of the aircraft seats. Further investigation in these cases is in progress.
