Bengaluru, April 3 -- A largescale gold smuggling and Hawala money laundering network with deep links to Dubai has been busted by the Directorate of Revenue Intelligence (DRI), with Sahil Jain emerging as a key conduit in facilitating multiple illicit transactions, agency sources said on Thursday.
Investigations have revealed that Jain played a crucial role in funnelling massive amounts of illicit funds to Dubai while aiding and abetting actress Ranya Rao in high-value financial dealings linked to smuggled gold. Authorities have so far identified Hawala money transfers amounting to Rs 38.39 crore to Dubai, exposing a sophisticated transnational laundering syndicate, the sources said.
Officials first flagged the operation in January 2025 w...