The ED Srinagar Zonal Office took raids at 6 places in Delhi-NCR and Ladakh. This action was taken under the Foreign Exchange Management Act. The investigation team has recovered several important documents and evidence during the raids.
The case is related to the seizure of 108 kg foreign gold, which was recently caught by ITBP. Later, the Directorate of Revenue Intelligence investigated and it was found that about 1064 kg of gold has been smuggled in India in this way. The price of this gold is said to be around 800 crores.
Connection connected to China and Tibet
The ED investigation has made a big disclosure. Gold smuggling was being done through a Chinese citizen BHU-Chum-Chum. He used to send gold from Tibet sector to India. His main ally in India was Tendu Tashi, who is said to be the mastermind of this entire network.
Tendu used to make full arrangements to take gold from Tashi border to Delhi. Tenzin Khandap, a resident of Tibet, was given the responsibility of taking gold from China and bringing it to the border. Tenzin Khandap’s relative Tenzin Samphel placed two porters, who took 108 kg of gold from China to the Indian border.
Gold smuggling money changed in cryptocurrency
ED has come to know that Tendu Tashi smuggled about 1064 kg of gold in India in 2023 and 2024. This gold was brought to Delhi and given to some special people, who used to sell it to different jewelers and dealers. The money for smuggling gold was given to Bhu-Chum-Chum in China through cryptocurrency.
In this case, DRI had already taken action and arrested 10 people, who are currently in jail under the COFEPOSA Act. ED has reported that this is a large international gold smuggling network, which includes many people from India and China. At present, the investigation of this case is going on and there may be more big revelations in the coming days.