Mangaluru: Directorate of Revenue Intelligence officials intercepted two persons at Mangalore Central Railway Station and recovered 5.6Kgs of gold bars in crude form on March 11.
The two are identified as Syed Mohammed and Ashoka K S.
The operation was conducted based on specific information about a network of operators who were bringing smuggled gold in the form of crude bars from Calicut to Mangalore.
The gold was then melted and cast into 100 gm bars with foreign markings, using foreign marking moulds, and was then getting distributed to various locations in Karnataka.
One Manjunath Shet alias Rupesh who was supposed to receive the said gold from the passengers was also apprehended at the parking lot of the railway station.
Meanwhile, a search was conducted in three different places in Car Street Mangalore, Udupi, and Shivamogga.
The source of the gold was traced to melters/jewelers in Calicut and swiftly follow up action was conducted leading to seizures of gold and Rs 82 lakh Cash.
Two cars of Toyota Etios model belonging to the syndicate having specially designed cavities for concealment which were used for transporting cash and gold between Calicut and Mangalore were seized.
Naveen Chandra Kamath of Udupi, who is the mastermind involved in the case was also apprehended.
In total seven persons were arrested during the entire operation. An investigation is being held to uncover the other persons involved in the racket.
The team constituted of 40 officers from Bangalore, Mangalore and Shimoga took part in the coordinated effort.
The total seizure was 9.3Kgs of gold, valued at approximately 4 crores, 5.2 kgs of silver along with Rs 84 lakh in cash.