Operation Alchemist: DRI Uncovers Gold Melting Syndicate in Mumbai

The Directorate of Revenue Intelligence (DRI) has cracked down on a gold melting operation based in south Mumbai, seizing gold worth Rs 8.93 crore. The central agency arrested seven individuals linked to a crime syndicate involved in smuggling gold from Dubai, officials announced on Monday.

Acting on specific intelligence, DRI's Mumbai Zonal Unit launched 'Operation Alchemist' on Sunday night, targeting a facility in the Masjid Bunder area. The initial raid netted two suspects and 8.74 kg of gold bars, setting off a chain of arrests over the next hours.

Investigations found that the smuggled gold, brought into India through carrier passengers, was melted into bars at the facility. The operation included follow-up actions resulting in the apprehension of more syndicate members, solidifying the agency's case against those who managed the illicit trade. A comprehensive probe is ongoing to unearth more details.

(With inputs from agencies.)