Sahil Jain, the third accused in the high-profile gold smuggling case involving Kannada actor Ranya Rao, has been remanded to judicial custody until April 7 by the Special Court for Economic Offences. Jain, a jeweller from Ballari, is alleged to have played a key role in facilitating the disposal of smuggled gold and managing hawala transactions.
The Directorate of Revenue Intelligence (DRI) stated that Jain assisted Rao in smuggling and selling at least 49 kg of gold, valued at over Rs 40 crore, from Dubai. He also allegedly managed hawala transfers worth Rs 38.4 crore. Investigators claim that Jain had been working with Rao since November 2024, helping her dispose of gold and transfer money through illegal channels.
Jain, who was arrested on March 26, was produced before the court after the completion of his custody period. The court subsequently remanded him to judicial custody, and he has been shifted to the Central Prison, Parappana Agrahara. According to the DRI’s remand application, Jain admitted to facilitating hawala transfers, including Rs 1.7 crore to Ranya in Bengaluru. Authorities suspect that the Rs 2.7 crore in unaccounted cash seized from Rao’s flat on March 4 is linked to these transactions.
The case gained traction after Ranya Rao was caught at Bengaluru airport smuggling 14.8 kg of gold worth Rs 12.56 crore. The investigation further led to the arrest of Tarun Raju, the second accused, who allegedly helped Rao smuggle gold from Dubai. Authorities believe Raju and Rao made multiple trips together, using a Dubai-based company to launder money.
Jain’s prior involvement in gold smuggling also surfaced, with records indicating that over ten months, he handled approximately 180 kg of smuggled gold worth Rs 66 crore. His previous arrest in Mumbai for a similar offense further solidifies his alleged role in the smuggling network.