Directorate of Revenue Intelligence busted Foreign Currency Smuggling Racket

INVC NEWS
New Delhi,

The seized foreign currency was found in the luggage tightly wrapped in towels in a manner to escape detection by the agencies at the Airport. All the currencies were in the denomination of USD 100. A total of around USD 8.90 Lacs was sized having market value approx. INR 6.14 Crore.

The Investigation so far has revealed that this syndicate involves foreign nationals and Indian nationals stationed at Hong Kong and India. The mastermind of the syndicate is sitting in the Hong Kong, who arranged carriers and sent them to India with gold bars through concealment. In India, a person used to collect the gold and give foreign currency in return which used to be smuggled-out of India back to Hong Kong. It was further revealed in the investigations that the syndicate never repeat the carriers to avoid attention of the Customs in India. In past also, DRI, has nabbed several foreign nationals involved in the smuggling of various contraband items like gold, foreign currency and Arms etc.