Gold smuggling case: Jeweller Sahil Jain helped Ranya Rao sell 49kg gold from Dubai

BENGALURU: Jeweller Sahil Sakaria Jain, who is from Ballari and currently residing at Cubbonpet in Bengaluru, is suspected to have helped actor Ranya Rao, the prime suspect in a gold smuggling case, in selling at least 49 kg of gold smuggled from Dubai and worth over Rs 40 crore, according to the Directorate of Revenue Intelligence (DRI).The remand application submitted by DRI to a special court for economic offences here on Wednesday narrated how Jain, who came in contact with Ranya in Nov 2024, helped her in selling the gold.The DRI produced Jain, who was arrested on March 26, before the court as his seven-day police custody came to an end. The court remanded him in judicial custody for seven days, and he was shifted to the Central Prison, Parappana Agrahara. Jain is the third accused to be arrested after Ranya Rao and Tarun Konduru Raju in the case."It appears that he (Jain) assisted and abetted Ranya Rao in disposing of 49.6 kg gold worth around Rs 40 crore and transferring hawala money of Rs 38.4 crore to Dubai. He acknowledged that he assisted in transferring hawala money of around Rs 1.7 crore to Ranya in Bengaluru. It appears that unaccounted cash of Rs 2.7 crore seized from Ranya's flat on March 4 is likely the hawala money received by her as profit from purchasing gold in Dubai and selling it in Bengaluru. Also, Jain stated that he was receiving a commission of Rs 55,000 for each transaction related to these actions," read the remand application.According to DRI, Jain helped Ranya in selling the gold from Nov 2024. "In Nov, he helped her in selling 8.9 kg gold worth over Rs 6.8 crore. He assisted her in sending hawala money of Rs 6.5 crore to Dubai in the same month. In the same period, he handed over Rs 32 lakh hawala money to Ranya. In Dec 2024, Jain helped Ranya in selling 12.6 kg gold worth Rs 9.9 crore. Then, he transferred Rs 9.6 crore hawala money to Dubai on her behalf. In Jan, Sahil Jain helped Rao in disposing of 14.5 kg of gold worth Rs 11.5 crore. Then he assisted her in transferring Rs 11 crore hawala money to Dubai and Rs 55 lakh hawala money to Ranya in Bengaluru. In Feb, Jain sold 13.4 kg of gold worth Rs 11.8 crore, assisted Ranya in transferring Rs 11.2 crore hawala money to Dubai. He also handed over Rs 55 lakh hawala money to Ranya in Bengaluru," the documents stated.