Overview
- Searches under FEMA were carried out at five locations in Delhi‑NCR and one in Ladakh, with incriminating documents recovered.
- The ED named Indian coordinator Tendu Tashi and a Chinese supplier identified as Bhu‑Chum‑Chum as key figures in the syndicate.
- Officials say the network funneled gold into Delhi’s market through intermediaries who supplied jewellers and dealers.
- Payments for consignments were routed via cryptocurrency, specifically USDT/Tether, as per agency statements.
- The probe stems from a July 9, 2024 ITBP interception of 108 one‑kg bars near the LAC in eastern Ladakh, while the DRI has detained 10 people under COFEPOSA.