Summary:
"In 2017-18, Customs had seized 3,223 kg of gold valued at 974 crore, an increase of 103% from 1,422 kg valued at 472 crore seized in 2016-17," a senior DRI official said. CHENNAI: The Directorate of Revenue Intelligence (DRI) busted a gold smuggling racket and arrested four men including the kingpin from a hideout at Choolaimedu in the city on Tuesday. The agency's intelligence inputs indicated that a large part of the domestic gold market was being served by illicit smuggling of gold. DRI sources said Ibrahim assigned people to smuggle gold especially from the Middle East. They seized 20.6kg of gold worth 6.88 crore, 21 lakh in cash and a BMW car from them.The kingpin, identified as Aulthan Syed Ibrahim, had engaged many carriers to smuggle gold into Tamil Nadu through smaller airports where customs checks are less..