Father-Son Duo Booked For 150 Cr Gold Deflection Fraud: DRI


Kolkata: Three men, including a father-son duo, have been arrested by the Directorate of Revenue Intelligence (DRI) for allegedly diverting gold jewellery worth at least Rs 150 crore meant for foreign markets to use in India, an official said on Saturday.

DRI is investigating gold jewellery exporters declaring exports using the personal hand carry export procedure’ a government policy that allows exporters to carry gold jewellery in hand baggage instead of cargo to destinations in United Arab Emirates (UAE) but diverting the consignments into the domestic market by manipulating the procedure.

The accused were arrested from the international airport here when they were trying to divert Rs 15 crore worth gold jewellery, it said. While the son was intercepted at the time of boarding a flight to Dubai, his father was de-boarded from a flight destined to Hyderabad, the statement said.

Documents were filed by them at the Customs Air Cargo Complex, Kolkata, for export by hand carriage of gold bangles weighing 54 kg to be carried to Dubai by the son on board the flight bound for Dubai. After the gold bangles were checked by the customs at the cargo, as per procedure, the items were sealed and escorted to the airport.