LEH: The Enforcement Directorate (ED) has unearthed a massive cross-border gold smuggling racket that allegedly pushed over 1,000 kilograms of foreign-origin gold into India during 2023 and 2024, worth nearly ₹800 crore.
The revelation comes in connection with the July 2024 seizure of 108 gold bars, each weighing one kilogram, near the Line of Actual Control (LAC) in eastern Ladakh. The gold was intercepted on July 9 by an Indo-Tibetan Border Police (ITBP) patrol at Sirigaple in the Changthang sub-sector, leading to the arrest of two men — Tsering Chamba and Stanzin Dorgyal.
According to the ED, the syndicate was masterminded by Tendu Tashi in India, who worked in close coordination with a Chinese national, identified as Bhu-Chum-Chum. The gold, routed from Tibet, was moved across the border using porters. Investigators revealed that Tenzin Khandap of Tibet acted as the designated receiver and transporter, while his uncle, Tenzin Samphel, arranged the porters to carry the consignments.
Once inside India, the gold was transported from Ladakh to Delhi, where it was supplied to jewellers and dealers. Payments to the Chinese supplier were reportedly made through cryptocurrency, specifically using USDT (Tether), to avoid detection.
The ED said that between 2023 and 2024, the network managed to smuggle 1,064 kilograms of gold into the country. The agency has carried out searches at five locations in the National Capital Region, including Delhi, and one in Ladakh, as part of its money laundering probe.
Officials said the syndicate had developed a sophisticated logistics and payment system to facilitate cross-border movement and disposal of the smuggled gold while keeping enforcement agencies at bay.
The ED added that further investigations are underway to trace the proceeds of crime and identify all individuals and entities connected to the racket.
