Hyderabad: With over 76 kg gold seized by the officials in recent days, Telangana capital Hyderabad is becoming a hub of gold smuggling with major consignments being smuggled into the city from Saudi Arabia, Dubai, and Singapore in different forms, officials said. Officials said that 16 kg of gold was seized in Bashirbagh, 6 kg in Chandanagar, 17 kg in Miyapur, 28.09 kg in the outskirts of the city, 9 kg near Jinom Valley of gold was seized since the election model code of conduct came into force in Telangana on the 9th of this month.
If so much gold can be found in searches during elections, it can only be guessed how much smuggling is done on normal days. Officials said that Hyderabad is becoming a major hub for gold smuggling. It is an open secret that a large amount of stolen gold changes hands in the old city, Begum Bazar, Secunderabad, Abids, Katedan, Adibhatla, and other areas.
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Sources said that gold is being smuggled into the city from Saudi, Dubai, and Singapore in different forms. It is said that some travel companies send poor and middle-class families from the city to Gulf countries on tourist visas. After a few days, the smugglers there deliver the gold in various forms to the selected persons to avoid customs checks.
A police officer said that the commission paid to the flyers if the gold comes out of the airport safely is between Rs 10,000-25,000. He said that unaccounted gold, which has reached Kerala, Tamil Nadu, and Gujarat by sea from Bangladesh and Gulf countries, is also reaching the city. The gold smuggled in various forms is melted and converted into biscuits and then brought to the open market.
A shop owner from Secunderabad said that they do 'zero' business without showing it anywhere in the accounts. It is estimated that there are more than 100 factories in the city and suburbs to melt smuggled gold and turn it into jewelry.
