New Delhi: The Directorate of Revenue Intelligence (DRI) has busted a trans-border gold smuggling syndicate and seized 15 kg of foreign-origin smuggled gold, valued at Rs 21.40 crore, and arrested four persons, the finance ministry said on Tuesday.

Preliminary investigations also reveal that crypto-currency was being used to transfer the money across borders to finance the smuggling, the ministry added.

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DRI officers intercepted an international courier consignment originating from Thailand at Courier Terminal, Delhi. The consignment was in the name of a firm linked to a foreign national, the ministry said.

A meticulous examination of the consignment declared as "worn gear", led to the recovery of eight disc-shaped pieces of foreign-origin gold, each weighing 1.5 kg, ingeniously concealed inside gear parts. In total, 12 kg of smuggled foreign-origin gold was recovered from the courier consignment.

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Simultaneous searches conducted at the residence of the intended recipient and the alleged mastermind resulted in the recovery of two more identical disc-shaped pieces of foreign-origin gold, each weighing 1.5 kg.

Four persons, including the mastermind, who is a repeat offender, and a foreign national, have been arrested in relation to the case, the ministry said.

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