Actress Ranya Rao, associates smuggled 127 kg of gold worth Rs 102 crore in a year: ED

“The smuggled gold was disposed of in the domestic market through a network of handlers and jewellers. The sale proceeds were generated in cash and settled through hawala channels in India and abroad. These funds were further layered and routed through multiple bank accounts and entities to project them as legitimate business transactions,” the ED added.

Ranya, the stepdaughter of now-suspended senior IPS officer Ramachandra Rao, was arrested at Kempegowda International Airport in Bengaluru on March 3 last year. after the Directorate of Revenue Intelligence allegedly found her carrying 14.213 kg of smuggled gold. Subsequent searches led to the recovery of gold jewellery worth Rs 2.06 crore and Indian currency amounting to Rs 2.67 crore, the agency said.

On May 21 and 22 last year, the ED conducted searches at 16 locations in Karnataka, resulting in the seizure of incriminating documents, digital devices, Indian currency, and foreign currency. Statements of several persons were recorded under Section 50 of the PMLA during the course of the investigation, the ED said.

During the investigation, immovable properties valued at Rs 34.12 crore in Ranya’s name were provisionally attached, the agency said. “The investigation has further revealed an organised and structured mechanism involving procurement of gold abroad, illegal import into India, cash-based disposal and subsequent laundering of proceeds through hawala and banking channels. Such activities not only undermine the legal trade and financial systems but also erode public trust in institutions meant to regulate cross-border transactions,” the agency said.

In July last year, Ranya was sentenced to one year imprisonment by an Advisory Board under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA), denying her bail rights for the entire sentence duration. She is currently lodged at the Parappana Agrahara Central Prison.