Gold, Shell Firms & Fake Deals

INDIA NEWS

By Aniket Chakraborty May 24, 2025 Arrow Image Credit | Ranya Rao | X

The ED found fake transactions, illegal forex routes, and shady shell companies linked to her.

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Ranya was arrested in March after flying in from Dubai with 14.2 kg of smuggled gold.

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She allegedly used multiple firms to show fake consulting income and launder black money.

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One company paid her crores for “construction labor supply”—which never existed.

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Three companies—Ranya Rao Photography, Ayrus Greens, Ksiroda India—are under ED watch.

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A revoked land allotment from KIADB to Ksiroda raised further red flags in Tumakuru.

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Suspects admitted to illegally moving foreign exchange and buying gold from Ranya.

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Some of this gold was traced to sales made to well-known Bengaluru jewellers.

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As ED digs deeper, the Ranya Rao case could expose one of Karnataka’s biggest smuggling networks.

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