Several details emerged following the arrest of ten people, including two women, alongside a stock of gold and cash in the Wattegama area in Kandy.
The gold includes four gold bars weighing nearly four kilograms.
Police said officers recovered 16.9 million rupees from the suspects.
One of the four gold bars, which together weigh 3 kilograms and 930 grams, weighs around 1.5 kilograms alone.
Police suspect the group illegally brought the gold into the country.
Police arrested the ten suspects at a lodging place in Wattegama on the afternoon of July 22.
Police investigations revealed the group travelled to Kandy from Kotahena, Colombo.
The suspects told police they brought the gold to sell at a higher price.
The suspects failed to produce any receipts to prove ownership of the confiscated items.
The suspects told police they run a jewellery store.
Wattegama Police are conducting investigations, and the case will be transferred to the Colombo Crime Division tomorrow, July 23, for further inquiries.
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