BENGALURU: Investigation by the Directorate of Revenue Intelligence (DRI) revealed that Sahil Sakaria Jain, accused No. 3, had assisted and abetted actress Harshavardhini Ranya, accused No. 1, in disposing of 49.6kg of gold, worth around Rs 40.13 crore.
The DRI also stated before the Special Court for Economic Offences that Jain had accepted that he had assisted Ranya in transferring Rs 38.39crore of hawala money to Dubai, and transferred hawala money of Rs 1.73crore to Ranya in Bengaluru, with a five-step process for each transaction.
DRI also stated that Rs 2.67crore seized from Ranya’s residence is likely hawala money she had received as profit from purchasing gold in Dubai and selling it in Bengaluru. Jain also informed DRI that Ranya had saved his contact number on her mobile as ‘Au Bangalore Dispatch Newton’, and admitted that he was receiving a commission of Rs 55,000 for each transaction.
On March 3 and 4, DRI arrested Ranya and seized 14.21kg of gold in bar form, having a value of Rs 12.56crore at KIA, Bengaluru. They searched her house and seized unaccounted cash of Rs 2.67crore and jewellery worth Rs 2.06 crore. Accused No.2 Tarun Konduru Raju was arrested and produced before the special court on March 9.
Based on digital evidence seized from Ranya, a plausible connection was found to Sahil Sakariya Jain, who appears to have been involved in dealing with the gold she smuggled into India. He was arrested on March 26.
Quoting his statement recorded under Section 108 of the Customs Act during his custody, DRI stated that there are more instances of Jain assisting Ranya in disposing of a huge quantity of smuggled gold.
Forensic extraction of Jain’s electronic devices -- two mobiles and a laptop -- was done on March 31. On being questioned about the hawala transactions, Jain explained the five-step process of initiation, communication, authentication, delivery and settlement, and that he was well-versed in the trade.
When DRI questioned his association with Ranya, Jain stated that in November 2024, one Avinash called him on his second mobile number and informed him that one of his associates, Ranya, would come to his shop to hand over gold, which he was to collect and later hand over to another person. When DRI confronted him with screenshots from a WhatsApp conversation on January 11, 2025, between him and Ranya, Jain admitted to his involvement.
Considering DRI’s apprehension that Jain may throttle the investigation, tamper with evidence and also influence witnesses, the Special Court remanded Jain to judicial custody till April 7.
Cash trail
Jain had assisted Ranya in disposing of gold and transferring hawala money over many months
Nov 2024 - 8,981gm of gold worth Rs 6.82cr; transferred Rs 6.50cr hawala money to Dubai, Rs 32.46lakh to Ranya in Bengaluru
Dec 2024 -12,621 gm of gold worth Rs 9.94cr; transferred Rs 9.64cr in hawala money to Dubai, Rs 30.34lakh to Ranya in Bengaluru
Jan 2025 - 14,568gm of gold worth Rs 11.55 cr; transferred Rs 11cr hawala money to Dubai, Rs 55lakh to Ranya in Bengaluru
Feb 2025- 13,433 gm of gold worth Rs 11.80 crore; transferred Rs 11.25cr hawala money to Dubai, Rs 55.81 lakh to Ranya in Bengaluru