The Customs Department arrested four persons on Wednesday on the charge of diverting about 20 kg gold meant for export into the domestic market.
Those arrested include the owner of a gold import-export unit named Ashwin Gold based at the Cochin Special Economic Zone.
As per regulations, the company has permission to import crude gold and export it after value addition. The accused allegedly conspired to take the gold outside the SEZ and divert it to the domestic market illegally. The gold was allegedly sold to jewellers in Kochi and Thrissur.
Proprietor of Ashwin Gold Sanjay Nikam, B. Jayakumar and Saji T.R., who were import-export consultants, and Jeeson Davis, an employee of a jewellery store in Thrissur, were arrested by the Customs Department. Jayakumar and Saji allegedly helped take the gold out of the SEZ, while Jeeson collected it on behalf of the jewellers. Customs officials said 10.5 kg gold imported by the unit earlier this month was taken to the premises of two jewellers in Thrissur. The accused were remanded in judicial custody till August 26.
