“In January, jeweler Vihari Sheth was publicizing a ritzy new line of diamond-encrusted designs. Last week, she was arrested at Mumbai airport with nearly $400,000 of gold jewelry in her underwear and on her person. The 27-year-old has a store in Singapore and is married to a director of Mumbai-based Siyaram Silk Mills Ltd (SIYA), a suit maker that is a household name in the country. Her arrest offers a glimpse into how even the wealthy may be joining small jewelers and organized gangs to skirt new government taxes on bullion imports that have made gold about 9 percent more expensive in Indian stores.”
Posted on: Thu, 08 Aug 2013 20:00:27 +0000
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