Daijiworld Media Network - Bengaluru
Bengaluru, April 25: In a major development in the high-profile gold smuggling case, Kannada actress Ranya Rao has been booked under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA), according to official sources.
The Central Economic Intelligence Bureau (CEIB), the nodal agency under the Union Ministry of Finance, invoked the Act against the actress and two other accused, following recommendations by the Directorate of Revenue Intelligence (DRI), which is spearheading the investigation.
By invoking COFEPOSA, authorities have ensured that Ranya Rao will be ineligible for bail for a period of one year. The Act is used to prevent repeat smuggling offences and to detain individuals seen as uncooperative during investigations.
Sources stated that the decision came in response to repeated bail attempts by Rao and the other accused. Tarun Raju and Sahil Sakaria Jain, who are also under arrest in the case, have likewise been booked under COFEPOSA.
Ranya Rao, who is the stepdaughter of senior police officer Ramachandra Rao, was arrested on March 3 for her alleged involvement in smuggling 14.2 kilos of gold, valued at over Rs 12.56 crore. She and her co-accused are currently lodged at the Bengaluru Central Prison.
The case is under multi-agency investigation by the DRI, Enforcement Directorate (ED), and Central Bureau of Investigation (CBI). In a parallel development, the Karnataka government has appointed a senior IAS officer to head a special team probing the possible involvement of DGP Ramachandra Rao. A report has already been submitted to the government, according to sources.
Further revelations from the DRI allege that Rao was involved in hawala transactions, with Sahil Jain, a Ballari-based jeweller now settled in Bengaluru. The DRI’s remand application submitted to the Special Court for Economic Offences stated that Rao and Jain were working in collusion to dispose of smuggled gold and route illicit funds abroad.
The DRI noted: “The investigations indicate that Jain assisted and abetted Ranya Rao in disposing of 49.6 kilos of gold worth around Rs 40 crore and transferring hawala money amounting to Rs 38.4 crore to Dubai.”
This revelation has intensified scrutiny on the case, with central and state agencies working closely to uncover the full extent of the smuggling and money laundering network.