Saturday, November 19, 2016

Bizman fails to strike gold with black money at airport

Demonetisation has given black money hoarders an innovative idea. Customs officials booked a Surat businessman for trying to smuggle out 25kg gold to convert it into foreign currency, from Chhatrapati Shivaji International Airport on Friday.
Pranav Chauhan had purchased the gold at a premium with old Rs500 and Rs1,000 notes. He wanted to sell it abroad and bring back foreign currency, showing it as legal earning.
While scanning a handbag, Central Industrial Security Force (CISF) personnel found a metal object and alerted the Customs. Chauhan had cleared security and immigration, and was seated in the waiting area when Customs officials took him for questioning, and found the gold in his bag.
Chauhan, who was flying to Canada, told officials he is a farmer and he also deals with land. He reportedly confessed to generating unaccounted money in land deals. Chauhan claimed he had purchased gold worth Rs 66 lakh for Rs 90 lakh .
19/11/16 Vijay V Singh/The Times Of India