New Delhi: The Directorate of Enforcement (ED) has provisionally attached immovable assets valued at ₹34.12 crore belonging to Harshavardini Ranya alias Ranya Rao in a transnational gold smuggling and money laundering case under the Prevention of Money Laundering Act (PMLA), 2002.
The attached properties, located in Bengaluru and Tumkur districts of Karnataka, were allegedly acquired using proceeds from a smuggling network that sourced gold from Dubai, Uganda, and other international hubs. Payments were routed through an intricate hawala network to evade the formal banking system, the ED stated.
The agency began its probe based on a CBI FIR dated March 7, 2025, which followed a Directorate of Revenue Intelligence (DRI) complaint involving the interception of foreign nationals with 21.28 kg of gold at Mumbai Airport. Days earlier, Ranya Rao herself was intercepted at Bengaluru Airport with 14.213 kg of concealed foreign-origin gold worth ₹12.56 crore.
Subsequent searches of Rao’s residence revealed ₹2.67 crore in unaccounted Indian currency and gold jewellery worth ₹2.06 crore. According to the ED, Rao, in collaboration with Tarun Konduru Raju and others, orchestrated a smuggling syndicate using dual travel documents and falsified customs declarations that misled authorities about the shipment’s true destination.
The ED’s investigation uncovered her role in selling the smuggled gold in India and routing the cash proceeds abroad via hawala for repeat consignments. Forensic analysis of digital devices further revealed chats, invoices, and foreign remittance records linking her to Dubai-based suppliers and customs agents.
Despite denying the allegations under Section 50 of PMLA, Rao’s statements were contradicted by substantial physical and digital evidence. The ED has so far quantified the total proceeds of crime at ₹55.62 crore.
To prevent concealment or disposal of laundered assets, the ED has attached four properties of Rao: a house in Victoria Layout, a residential plot in Arkavathi Layout (both in Bengaluru), industrial land in Tumkur, and agricultural land in Anekal Taluk.
Officials noted that potential involvement of public servants in facilitating these operations is under scrutiny, and further investigations are ongoing to trace additional assets and members of the syndicate.
