Dubai-based gold trader named in reports filed with US Treasury’s FinCEN

Dubai-based gold trader named in reports filed with US Treasury’s FinCEN

Dubai-based gold traders and refiners Kaloti Jewellery Group's dealings with three Indian companies have figured in several transactions red-flagged by banks to US Treasury's Financial Crimes Enforcement Network (FinCEN).

The combined amount involved in alleged transactions through three international banks involved billions of dollars, according to information obtained by US news portal BuzzFeed.

Met Trade India, now renamed as Metenere Ltd, Jai Gurudev Industries & Warehousing, one of the companies of Mumbai-based Rajsi Group, Chennai-based Surana Corporation are the Indian companies, while Dubai-based Bafleh Jewellery, owned by Indian businessmen Ramesh Bhogilal Vora and his son Chirag Ramesh Vora, are the entities reportedly involved in the dealings with Kaloti Jewellery Group.

Arabian Business has contacted Kaloti Jewellery Group and Bafleh Jewellery for their responses.

Bafleh responded online to Arabian Business' query, saying: "We will get