Initial finding of the DRI investigations claim that the import-export codes revealed Rs 2,232 crore were sent to buy mostly electronic goods, but the actual import was worth Rs 25 crore.

DRI officials have suggested that it is believed that bank officials were involved in the scam. Initial findings reveal that the bank officials did not even bother to cross-check the money

transfers, nor did they report any of the transactions to the Financial Intelligence Unit (FIU). It is suspected that the fake entity was created by those involved in gems and jewellery

trading to carry out this mega scam. Officials have revealed that several many other cases have also come to light where recently gold and diamonds have been smuggled into the country and