Chennai: 3 Customs ex-SPs in dock over Rs 1k-cr scam
According to sources, the delay in the CBI's investigation was due to the prolonged process of obtaining mandatory sanctions from the State and central governments.
Central Bureau of Investigation
CHENNAI: Nearly three years after the Directorate of Revenue Intelligence (DRI) uncovered a major fraud, the Central Bureau of Investigation has initiated a formal probe into a nearly Rs 1,000 crore fake gold export scam that allegedly involved Customs officials and city-based jewellers.
According to sources, the delay in the CBI's investigation was due to the prolonged process of obtaining mandatory sanctions from the State and central governments. The CBI filed an FIR and conducted searches on Saturday at properties linked to the accused.
Those named in the FIR include the then superintendents J Suresh Kumar, Alok Shukla, and P Thulasi Ram, and appraiser N Samuel Deepak Avinash. The jewelleries listed in the FIR are Sunil Jewellery, Shree Kalyan Jewellery, Siroya Jewellers, and Balaji Jewellers. Besides them, jewellers Deepak Siroya, Santosh Kothari, Sunil Parmar, and Sunil Sharma, as well as Customs broker Mariappan also figure in the FIR.
The scam revolved around the misuse of the Duty-Free Import Authorisation (DFIA) scheme, which allows jewellers to import gold bullion duty-free on the condition that they export jewellery made from that same gold.
However, the FIR alleges, a group of jewellers, in collusion with Customs superintendents at the Chennai air cargo terminal, devised a scheme to divert pure gold into the domestic market for profit. To fraudulently claim the duty exemption, they instead exported jewellery that was largely fake, merely coated with a layer of gold. This illicit activity is believed to have continued from 2020 to 2022.
The implicated Customs officials are accused of certifying the fake jewellery consignments as genuine, enabling the fraud and granting themselves "undue advantage".
The scam came to light in 2022 when the DRI intercepted four consignments destined for Gulf countries. Upon inspection, the jewellery was found to be made of brass and copper with only a superficial coating of gold. Another shipment contained substandard 21-carat gold jewellery, further exposing the fraudulent operation.