What Actions Did ED Take at 5 Locations Including Ladakh Related to 108 Kg Gold Seizure?
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Synopsis
The ED's recent operations in Delhi-NCR and Ladakh have unveiled a significant gold smuggling racket. With the recovery of incriminating evidence, the case has drawn attention due to the involvement of international parties and cryptocurrency transactions. Stay tuned as the investigation unfolds!
Key Takeaways
- ED's searches led to the recovery of incriminating documents.
- 1064 kg of foreign-origin gold was transacted, involving cryptocurrency.
- Tendu Tashi played a crucial role in logistics for gold smuggling.
- The DRI has detained 10 individuals under COFEPOSA.
- Further investigations are ongoing.
Srinagar, Sep 9 (NationPress) The Directorate of Enforcement (ED), operating from the Srinagar Zonal Office, has executed searches under the Foreign Exchange Management Act, 1999 (FEMA) at five locations across Delhi-NCR and one in Ladakh. These operations relate to the seizure of 108 Kg of foreign-origin gold by the ITBP, which led to the discovery of incriminating documents.
A press release from the ED disclosed that the Directorate of Revenue Intelligence (DRI) is also involved in this investigation. Their findings indicate that a total of 1064 Kg of foreign-origin gold was transacted in this operation, with payments facilitated through USDT/Tether. The DRI has currently detained 10 individuals under COFEPOSA, who remain in custody.
According to the ED investigation, the illicit foreign-origin gold was being smuggled by a Chinese national named Bhu-Chum-Chum to an individual in India, identified as Tendu Tashi, via the Indo-China Border (Tibet Sector). Tashi is the key orchestrator, managing the logistics for transporting the smuggled gold bars from Ladakh to Delhi for further distribution.
The agency identified Tenzin Khandap, a Tibetan resident, as the designated recipient of the foreign-origin gold from Bhu-Chum-Chum. He was responsible for transporting the gold to the Indo-China border and handing it over to Indian porters.
It has also been revealed that following Tendu Tashi’s instructions, Tenzin Samphel—Khandap's uncle—recruited two porters to retrieve the 108 kg of FO gold from China.
The investigation further indicated that Tendu Tashi successfully smuggled 1064 kg of gold valued at Rs 800 Crore into India from the Chinese border throughout 2023 and 2024, aided by his gold smuggling syndicate.
The smuggled gold was then sold to individuals in Delhi, who subsequently sold it to various gold jewellers and dealers in the area. Payments for the foreign-origin gold were made to Bhu-Chum-Chum on the Chinese side using cryptocurrency (USDT/Tether), as stated by the ED.
The central investigative agency has confirmed that further inquiries into this case are ongoing.
Point of View
It's crucial to highlight that the ongoing investigation into the gold smuggling case by the ED illustrates a growing concern around cross-border illicit activities. The involvement of cryptocurrency in such operations raises alarms about regulatory gaps in monitoring financial transactions. Our commitment is to keep the public informed as the investigation progresses.
NationPress
09/09/2025
Frequently Asked Questions
What prompted the ED's search operations?
The ED conducted searches in connection with the seizure of 108 kg of foreign-origin gold by the ITBP, leading to the recovery of incriminating documents.
Who is Tendu Tashi?
Tendu Tashi is identified as the mastermind behind the gold smuggling operations, responsible for coordinating the logistics for transporting smuggled gold from Ladakh to Delhi.
What is the significance of the DRI's involvement?
The DRI's investigation revealed a larger smuggling network, uncovering transactions involving 1064 kg of gold and the use of cryptocurrency for payments.
What actions have been taken against those involved?
The DRI has detained 10 individuals under COFEPOSA, and further investigations by the ED are ongoing.
How was the gold smuggled into India?
The gold was smuggled through the Indo-China Border by individuals acting on instructions from a Chinese national, utilizing porters to facilitate transportation.
