Vijayawada: Illegal transactions of the gold racket were busted by the Vijayawada Taskforce Police on Saturday. They seized 6.257 kg of gold worth Rs 1,92,08,990, and Rs 48,40,420 in cash. They also seized a car and 4 cell phones and arrested 4 team members of the racket.
On this occasion, the City Police Commissioner Dwaraka Tirumala Rao said that Rajesh Kumar Jain of Governerpet, Vijayawada was involved in illegal transactions of gold wherein he paid only 10 per cent of the bills, and imported the gold from Mumbai to Vijayawada and evaded the GST on it. He would import the gold, make ornaments at Vijayawada and then sell them to jewelry shops in Andhra Pradesh and Telangana.
In the same manner, his four assistants - Bugata Suribabu, Tammina Yogesh, Chintapalli Sivakumar, and Gadi Ganapati - would travel to Palvancha, Bhadrachalam, Kotthagudem, and Manuguru, and visit gold merchants and shops to sell the ornaments.
Following a tipoff, Vijayawada police arrested the four assistants at Ibrahimpatnam when the four returned after their transactions at Manuguru in a car with the cash. As they could not produce the bills for the amount of cash they were carrying in their vehicle, the police took them into custody.
While speaking to this correspondent, Circle Inspector V. Durgarao said: “The information will be submitted to the Income Tax and Sales Tax Departments and then they will inquire and fine the owner Rajesh.”
He also said, “In our primary inquiry, we noticed that Rajesh had been transporting gold ornaments with his assistants to the several shops in both the Telugu states for a long period of time.
The police have appealed to the public to be alert about such illegal activities and to inform the Police Control Room Nos. 2579999, 2576956 or to dial 100. They also urge the people to try sending a WhatsApp message on 7328909090....