The Enforcement Directorate (ED) has made significant strides in its investigation into the gold smuggling case involving Kannada actress Ranya Rao, unearthing a complex web of hawala operations and fake transactions. Coordinated search operations were conducted across 16 premises linked to individuals and entities involved in the network, revealing serious financial irregularities and layering of proceeds.
A key aspect of the ED's findings revolves around the utilization of hawala channels for illegal foreign exchange movement to procure gold. Several individuals involved in facilitating these transactions have reportedly admitted to dealings with Ranya Rao. Further investigation revealed that buyers have confessed to purchasing gold from her and subsequently selling it to jewelers. Sahil Sakariya Jain, already implicated in a 2019-2020 Kolkata gold smuggling racket, was found to have transferred a substantial ₹38.39 crore to Rao through hawala routes, with an additional ₹1.73 crore routed through hawala exchanges in Bengaluru. Jain allegedly received commissions for each consignment of smuggled gold and for facilitating the fund transfers to Dubai.
Another significant discovery by the ED is the involvement of accommodation entry operators who facilitated fake financial transactions into Ranya Rao's accounts. These operators have confessed to routing funds to Rao's accounts without any genuine business transactions. For instance, one company falsely declared Rao as a supplier of construction labor and paid her several crores of rupees. Similarly, she allegedly used other companies to launder money.
The ED's investigation also revealed that an educational trust allegedly diverted funds, making a payment of ₹40 lakh towards Ranya Rao's credit card bill, purportedly under the instructions of an influential individual. Crucially, investigators found no supporting vouchers or documentation to justify this payment.
Moreover, the ED has unearthed individuals and entities engaged in illegal forex business without the necessary approval from the Reserve Bank of India (RBI), further solidifying the case against Ranya Rao and her associates. The ED is actively tracing the money trail, having already identified proceeds of crime amounting to several crores of rupees. The legitimacy and source of the funds are currently under intense scrutiny.
Ranya Rao's troubles don't end here. She has been booked under the stringent Conservation of Foreign Exchange and Prevention of Smuggling Activities (COFEPOSA) Act, 1974. This move effectively prevents her from being eligible for bail for at least a year, as authorities aim to prevent her from resuming her alleged illicit activities, citing her lack of cooperation during the investigation. Ranya Rao was apprehended on March 3rd while allegedly smuggling 14.2 kilograms of gold, valued at over ₹12.56 crore.
The Directorate of Revenue Intelligence (DRI) investigation indicates Ranya Rao, aided by Sahil Sakariya Jain, disposed of almost 50 kg of smuggled gold worth approximately ₹40 crore between November 2024 and February 2025. Jain allegedly facilitated the transfer of around ₹38.4 crore to Dubai via hawala channels.
The ED's investigation has also led to searches at locations linked to Karnataka Home Minister G Parameshwara, including educational institutions. This action stems from a money laundering probe connected to the Ranya Rao case. The ED discovered a financial trail between Rao and a medical college linked to Parameshwara, leading to scrutiny of the institution's financial records. While Karnataka's Chief Minister has refrained from commenting, the Congress party has suggested the raids are politically motivated.
As the investigation progresses, authorities suspect the smuggling ring may have wider connections, and further arrests are possible. The ED, DRI, and CBI are jointly investigating the case.
