ED Raids Delhi-NCR and Ladakh in Massive Gold Smuggling Probe
In a major crackdown on gold smuggling, the Enforcement Directorate’s (ED) Srinagar Zonal Office swung into action. They carried out searches under the Foreign Exchange Management Act (FEMA) at five spots in Delhi-NCR and one in Ladakh. These raids targeted homes and businesses linked to a huge seizure of 108 kg of foreign-origin gold by the Indo-Tibetan Border Police (ITBP). The team uncovered key incriminating documents during the operation.
The Directorate of Revenue Intelligence (DRI) had already dug deep into this gold smuggling case. Their probe showed that smugglers handled a whopping 1,064 kg of foreign gold through shady deals. They even paid for it using USDT or Tether cryptocurrency. As a result, DRI arrested 10 people under the COFEPOSA law, and those suspects remain in custody right now.
ED’s investigation paints a clear picture of the smuggling network. It all starts with Bhu-Chum-Chum, a Chinese national, who sneaks the foreign-origin gold across the Indo-China border in the Tibet sector. He hands it over to Tendu Tashi, the main brain behind the operation in India. Tendu Tashi handles the entire logistics, moving the smuggled gold bars from Ladakh all the way to Delhi for sale.
Another key player is Tenzin Khandap from Tibet. He receives the gold from Bhu-Chum-Chum and carries it right up to the Indo-China border. There, he passes it to Indian porters waiting on the Chinese side. On Tendu Tashi’s orders, Tenzin Samphel—uncle of Tenzin Khandap—hired two porters to pick up that 108 kg batch from China.
Digging deeper, ED found that Tendu Tashi and his gold smuggling syndicate pulled off a massive haul. They smuggled a total of 1,064 kg of gold—worth a staggering Rs 800 crore—into India from the China border in 2023 and 2024. Once in Delhi, they delivered the gold to local buyers, who then sold it to gold jewellers and dealers across the city. The payments? They went straight back to Bhu-Chum-Chum in China via cryptocurrency like USDT/Tether.
This gold smuggling bust highlights how international networks use borders and digital money to dodge the law. ED officials say the probe continues, and more details could emerge soon. Stay tuned for updates on this high-stakes foreign exchange violation case.
