NEW DELHI: The Enforcement Directorate (ED) on Wednesday filed a chargesheet in its money laundering probe into a gold smuggling syndicate that includes Kannada actress Rania Rao, alleging that the syndicate smuggled more than 127 kg of gold worth more than 127 kg. $102 crore annually to India and disposed of in the domestic market through a network of dealers and jewelers.
The agency has named Rania Rao and two others – Tarun Kunduru and Sahil Sakariya Jain – as accused in the prosecution complaint (chargesheet) filed under the Prevention of Money Laundering Act (PMLA) before a special court in Bengaluru.
ED is among several central agencies – along with the Central Bureau of Investigation (CBI) and the Directorate of Revenue and Intelligence (DRI) – looking into a larger conspiracy in the gold smuggling racket.
Its investigation is based on a case filed by the Central Bureau of Investigation (CBI) on March 7, 2025 following a complaint from the Directorate of Revenue Intelligence (DRI).
DRI intercepted Rao, daughter of a Director General of Police Officer, on March 3, 2025 at Kempegowda International Airport, Bengaluru, with 14.213 kg of foreign origin 24 carat gold, worth 14.213 kg. $Rs 12.56 crore. A search of her residence found $Rs 2.67 crore in unaccounted Indian currency and gold jewelery worth $2.06 Crores.
“The Headquarters Investigation Unit-II (HIU-II), New Delhi filed a judicial complaint on Wednesday under the Anti-Money Laundering Act against Harshavardini Rania alias Rania Rao, Tarun Kunduru and Sahil Sakariya Jain in connection with a large-scale gold smuggling and money laundering case,” the agency said in a statement.
The directorate said that investigations revealed the presence of “a total of 127,287 kilograms of gold, valued at approximately 127,287 kilograms.” $Rs 102.55 crore was smuggled into India during the period from March 2024 to March 2025.
“The smuggled gold was disposed of in the local market through a network of dealers and jewelers. The sale proceeds were generated in cash and settled through hawala channels in India and abroad. These funds were pooled and routed through multiple bank accounts and entities to be viewed as legitimate business transactions,” the ED said in its statement.
The federal agency had carried out raids in this regard on May 21 and 22 last year and found incriminating documents, digital devices, Indian currency and foreign currency. To complete the investigation, the Emergency Department recorded the statements of several people.
Last year the agency also attached the value of the assets $Rs 34.12 crore is owned in the name of Rania Rao.
“The investigation has unearthed an organized and structured mechanism involving procurement of gold from abroad, illegal import into India, disposal on cash basis and subsequent laundering of the proceeds through hawala and banking channels. Such activities not only undermine legal trade and financial systems but also erode public confidence in institutions meant to regulate cross-border transactions,” the ED said on Wednesday.
