Authorities are investigating the Indian owner of a Swiss gold refining operation for allegedly inflating revenue figures by $159 billion, according to regulatory filings and sources familiar with the matter.

The investigation centers on accounting practices at the Indian parent company of the Swiss refinery, which processes precious metals for international markets. Details about the specific nature of the alleged inflation or the timeline of the questionable transactions have not been disclosed by authorities.

The probe highlights ongoing scrutiny of gold trading and refining operations, particularly those with complex international ownership structures. Swiss gold refineries play a crucial role in global precious metals markets, processing raw materials from mines worldwide into investment-grade products.

Regulators have not announced any formal charges or penalties related to the investigation. The Swiss refinery's operational status and whether its business activities have been affected by the probe of its parent company remains unclear.

The case underscores increasing regulatory attention on financial reporting practices in the commodities sector, where large transaction volumes and international operations can complicate oversight efforts.