What began as a seemingly straightforward late-night robbery in Vadodara has spiraled into a major investigation uncovering a substantial illegal foreign currency trade network valued at a staggering Rs 2.54 crore. The incident, which occurred in the Karelibaug area, has exposed illicit financial activities operating beneath the surface of the city.
From Robbery to Financial Investigation
The case came to light on the night of January 16 when gift shop owner Leelaram Revani was attacked near his residence. According to police reports, a gang threw chilli powder in Revani's eyes before snatching a bag he was carrying. Initially, Revani reported that approximately Rs 10 lakh in cash had been stolen during the assault.
Unraveling the Illegal Forex Network
However, subsequent investigations by the Crime Branch revealed a much more complex scenario. Deputy Commissioner of Police (Crime) Himanshu Verma stated that Revani admitted the foreign currency seized from the accused actually belonged to him. "He also stated that he did not possess a valid licence to trade in foreign currency," Verma confirmed, noting that while Revani had previously held a licence and was familiar with trade networks, his current operations were unauthorized.
Police investigations determined that the robbery was directly connected to Revani's illegal foreign exchange dealings. One of the key accused, Shana Vaghela, allegedly planned the heist after learning about Revani's currency operations. The gang had reportedly conducted surveillance of Revani's movements for several days before executing their plan near his home.
Massive Currency Seizure and Arrests
Following the robbery, police acted swiftly and arrested seven members of the gang on January 18. During searches conducted as part of the investigation, authorities recovered:
- 7,808 foreign currency notes from 20 different countries
- The stolen Rs 10 lakh in cash
The seized foreign currency originated from diverse nations including the United States, Kenya, Australia, Saudi Arabia, Singapore, Qatar, Canada, Russia, and Japan. The total value of this international currency haul was assessed at Rs 2.54 crore.
Legal Implications and Enforcement Directorate Involvement
Given the scale of the illegal operation and its violation of foreign exchange regulations, police have decided to escalate the matter to higher authorities. "We will write to the Enforcement Directorate as the case falls under the Foreign Exchange Management Act," explained DCP Verma. He further clarified that "The ED can take the investigation forward. Our probe will focus on whether any criminal activity was involved in sourcing the foreign currency."
This development indicates that the investigation will now examine potential connections to broader criminal networks involved in currency smuggling or money laundering activities. The involvement of multiple countries in the seized currency suggests a sophisticated operation that may have international dimensions.
The case highlights how seemingly isolated criminal incidents can sometimes reveal much larger illegal operations. As authorities continue their investigation, they're examining not just the robbery itself but the entire ecosystem of unauthorized foreign currency trading that enabled such substantial illegal transactions to occur in Vadodara.
