ED Seizes ₹34 Cr Property of Actress Ranya Rao in Gold Smuggling Case

The Enforcement Directorate (ED) has temporarily seized properties worth Rs 34.12 crore in a major case of gold smuggling and money laundering against Kannada actress Ranya Rao. This action has been taken under the Prevention of Money Laundering Act (PMLA), 2002. The seized properties include a lavish residence, a plot, industrial land and agricultural land located in Bengaluru and Tumkur districts.

The ED investigation began with an FIR registered by the CBI, in which 2 foreign nationals, an Omani and a UAE resident, were caught with 21.28 kg of gold at Mumbai airport. The value of this gold was Rs 18.92 crore. A few days before this, on March 3, Ranya Rao was arrested at Bengaluru's Kempegowda International Airport with 14.213 kg of gold, worth Rs 12.56 crore. Rs 2.67 crore in cash and gold and silver jewellery worth Rs 2.06 crore were also recovered from his residence.

The ED investigation revealed that Ranya Rao, his associate Tarun Konduru Raju and other persons together operated an organised gold smuggling network. This gold was brought to India from Dubai, Uganda and other countries. For smuggling, false custom declarations were used to pretend to send the gold to Switzerland or America, whereas in reality this gold was brought to India.

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The smugglers kept 2 passports

The smugglers kept two passports, one for showing and the other for travel, so that it would be difficult to catch them. In India, this gold was sold to local jewelers in cash, after which the money was sent abroad through hawala, which funded the next smuggling. Evidence of conversations with hawala operators and agents from Dubai has also been obtained from Ranya Rao's mobile and digital devices.

What was recovered in the raid?

The ED has identified crime-acquired property worth Rs 55.62 crore, out of which an attempt has been made to pretend legality by investing some amount in real estate. The seized properties include a grand house in Victoria Layout in Bengaluru, a plot, industrial land in Tumkur district and agricultural land in Anekal taluk. The total value of these properties has been estimated at Rs 34.12 crore.

Why is this action important?

This action reflects the strict action of the Enforcement Directorate (ED) against international gold smuggling and money laundering. This case exposes the organized crime network, which endangers the economic security of the country. It is noteworthy that the investigation against Ranya Rao and his associates is ongoing, and the ED is trying to reach other members of this network.