Chandigarh Police made a significant seizure on Saturday night, confiscating 1.2 kilograms of gold and Rs 14 lakh in cash from a vehicle in the city's industrial zone. This incident has triggered a major investigation into possible tax evasion and illegal financial activities.
Checkpoint Interception Leads to Discovery
Officers stationed at a checkpoint in Industrial Area Phase I flagged down a Haryana-registered Honda Amaze for a routine inspection. The driver, identified as Jagmohan Jain, an Ambala-based jeweller, was behind the wheel. During the search, police found the substantial haul inside the vehicle.
Jain could not provide valid documentation for either the gold or the cash. The gold included various denominations such as 100-gram bars, 50-gram bars, and one-ounce bullion. All items were marked with 9999 fine purity.
Driver's Explanation Falls Short
"The driver claimed he was in Chandigarh to deliver gold to Sectors 22 and 8 and was returning home when we stopped him," said Charanjit Singh, DSP of the East Division. "However, he failed to produce any paperwork to verify the source of the assets or the transaction details."
This lack of documentation raised immediate red flags for the authorities. Jain remains in police custody as the investigation continues.
Federal Agencies Take Over the Probe
Given the scale of the seizure, Chandigarh Police have formally handed the matter over to the Income Tax Department. Federal agencies are now involved in tracing the movement of the seized assets.
Investigators are exploring several potential angles. They want to determine if the haul is connected to hawala operations or informal money-laundering networks. Another possibility under scrutiny is tax evasion through unreported commercial transactions between interstate jewellers. Authorities are also checking for links to wider criminal syndicates involved in illegal financial transfers.
Verification of Business Records and Gold Origin
Police are currently verifying Jain's business ledgers to understand his financial activities. They are also examining the purity markings on the bullion to track its origin. This step is crucial for establishing the chain of custody and identifying any illicit networks.
The seizure highlights ongoing efforts to combat financial crimes in the region. Chandigarh Police have emphasized their commitment to cracking down on illegal activities that undermine the economy.
This case serves as a reminder for businesses to maintain proper documentation for high-value transactions. Authorities urge citizens to report any suspicious financial activities to help curb such operations.
